This property, which was built in 1985 for over $200 per square foot, was purchased by Amerimar Enterprises, in joint venture with Angelo, Gordon & Co. The seller was an affiliate of the FDIC which had a mandate to sell all its assets. At the time of purchase, the property boasted a long-term credit rent roll and a 22% vacancy rate.

Although the Chicago office market was among the more depressed in the country, the joint venture was attracted to this property by its existing tenancy, excellent location, efficient floorplates and good access to public transportation. In addition, analysis showed that within the Chicago office markets, certain submarkets were performing exceptionally well. This growth was not limited to the suburban markets. The West Loop submarket where the property is located experienced a decrease in the vacancy rate from 18% to 15% between 1994 and 1995, a trend which continued to improve. In the first four months of controlling the property, the ownership signed leases for new tenants representing over 55,000 square feet. As a result of Amerimar's superior property management, 100% of the tenants whose leases expired in 1996 elected to renew their leases. In 1997, 200 West Adams was sold to Beacon Properties for a significant profit.