The Irvine Company recently sold its One North Wacker skyscraper in Chicago for $550 million, or nearly $400 per square foot. This sale of the 51-story tower marks one of the largest U.S. office sales this year and represents a rare profitable transaction for a domestic high-rise office building in the current market. The Irvine Company had acquired the Chicago tower in two separate transactions, in 2011 and 2015, for a combined total of nearly $540 million.
This profitable sale stands in contrast to the Irvine Company's recent dispositions in downtown San Diego. In 2024 and 2025, the firm reportedly brought in less than $400 million from the combined sale of all six of its high-end office towers in downtown San Diego. The company had initially paid more than $1 billion for these six towers, acquired through a series of transactions primarily between 2003 and 2006.
Closer to home, the Orange County office tower market is also showing signs of activity. Brokerage data indicates that Anduril Industries, a Costa Mesa-based defense firm, has expanded its real estate holdings into high-rise office spaces. The company secured a pair of leases totaling close to 170,000 square feet across two airport-area towers. This expansion reflects Anduril Industries' continued growth and increasing demand for local office space.
In other news, several notable Orange County residents participated in the Chicago Marathon on October 11, which saw more than 55,000 runners brave warm temperatures. Among the finishers was Jackie Moe, a Business Journal editor and director of digital operations, who completed the race in 3 hours and 58 minutes. This placed her 843rd in her age group, about ten minutes behind Chelsea Clinton. It was Moe's fifth time running the Chicago Marathon. Moe also serves as a board member for the Orange County chapter of the Ronald McDonald House.
Chapman President Emeritus Jim Doti also completed the Chicago Marathon, finishing sixth in his 80+ age group with a time just over six hours. Doti, a Chicago native, ran the marathon to support the Ronald McDonald House in Chicago. Following the race, Doti was on his way to celebrate with hot dogs at Gene and Jude’s, a local Chicago institution. Doti oversees Chapman University’s closely watched annual economic forecast, which is scheduled to be held on December 10.
