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Blackstone’s $343 Million Loan on Chicago Skyscraper Defaults

Blackstone’s $343 Million Loan on Chicago Skyscraper Defaults
Bloomberg Markets Wednesday 24 June 2026, 16:29 UTC By Miranda Davis, John Gittelsohn, Natalie Wong 1 min read
Key Points

Blackstone’s $343 Million Loan on Chicago Skyscraper Defaults A Blackstone Inc. loan on an office tower in the heart of Chicago’s financial center has gone into default, the latest sign of the persistent challenges landlords face after the city’s commercial real estate values tumbled in the wake of the pandemic. 601W Companies, which purchased the 40-story building in 2018, defaulted on a $343 million loan on June 9, according to a mortgage filing. The New York-based real estate firm said it...

Blackstone’s $343 Million Loan on Chicago Skyscraper Defaults A Blackstone Inc. loan on an office tower in the heart of Chicago’s financial center has gone into default, the latest sign of the persistent challenges landlords face after the city’s commercial real estate values tumbled in the wake of the pandemic. 601W Companies, which purchased the 40-story building in 2018, defaulted on a $343 million loan on June 9, according to a mortgage filing. The New York-based real estate firm said it purchased the skyscraper at One South Wacker Drive for about $310 million.
Blackstone (ORG) Blackstone Inc. (ORG) Chicago (LOCATION) New York (LOCATION) South Wacker Drive (LOCATION)
Originally published by Bloomberg Markets Read original →

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