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Focus: Commercial Real Estate 16 June 2008 Crain's Chicago Business Volume 31; Number 24 © 2008 Crain Communications, Inc. All rights reserved. The joint venture that bought the John Hancock Center last year has put the 100-story tower's observation deck and retail space up for sale a few short months after signing a lease with Best Buy Co. for a flagship store. The roughly 171,800 square feet of retail space and 17,400-square-foot observation deck could sell for as much as $200 million, according to sources familiar with the thinking of the Hancock's owner, a joint venture of Goldman Sachs & Co.'s Whitehall Fund and Chicago developer Golub & Co. The sale of the retail space includes restaurant Signature Room at the 95th. ChicagoRealEstateDaily.com/hancock

Upscale Minneapolis restaurant chain Oceanaire Seafood Room has agreed to open its first Chicago location at 353 N. Clark St., an office tower under construction in River North. Co-developer Mesirow Financial has stressed the proximity of restaurants and hotels in a bid to distinguish the 1.2-million-square-foot tower from Wacker Drive rivals. Oceanaire Inc. offers fresh fish and a dining room decor intended to evoke the luxury of a 1930s ocean liner. The 10,000-square-foot Oceanaire deal is the first retail lease at 353 N. Clark, which will have about 25,000 square feet of retail space. ChicagoRealEstateDaily.com/oceanaire

Retail giant Target Corp. confirmed negotiations to open a store in Uptown at the Wilson Yard mixed-use project, a critical step in the long-delayed development. A spokeswoman for the Minneapolis-based retailer says the company might disclose details about its plan later this month. The development, a former CTA repair yard that runs along the west side of Broadway between Montrose and Wilson avenues, would also include a 382-car parking garage and two residential buildings with 178 units of affordable housing. ChicagoRealEstateDaily.com/wilsonyard

Chicago architectural firm Goettsch Partners Inc. released renderings of the Sowwah Square development, the mixed-use project that a John Buck Co. joint venture is developing in the Middle East. The project-to be anchored by the headquarters of Abu Dhabi Securities Exchange-is part of a plan by the Abu Dhabi government to create a central business district for the small nation, one of the United Arab Emirates. To see the designs, go to ChicagoRealEstateDaily.com/sowwah.

PHOTO GALLERIES

Illinois House Speaker Michael Madigan was among the nearly 700 people who attended the Building with Books' Partnership for Hope Breakfast last month.

To see photos from this and other events, go to ChicagoRealEstateDaily.com/galleries.

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