SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
/X/ Current Report Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934
September 15, 1997
(Date of Report)
Commission file number: 0-28354
Great Lakes REIT, Inc.
(Exact name of Registrant as specified in its Charter)
Maryland 36-3844714
(State or other jurisdiction (I.R.S. Employer identification no.)
of incorporation organization)
823 Commerce Drive, Suite 300, Oak Brook, IL 60521
(Address of principal executive offices) (Zip Code)
(630) 368 - 2900
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
ACQUISITIONS
On September 2, 1997, Great Lakes REIT, Inc. (the "Company") purchased One
Century Centre, an eleven story, Class-A office building located at 1750 E. Golf
Road, Schaumburg, Illinois. The building contains 213,346 rentable square feet.
One Century Centre is currently 97.2% occupied and was purchased for
approximately $20,050,000 including an estimate for immediate capital
expenditures. The property features a two-story main lobby with polished granite
floors and a granite exterior with frameless tempered glass for lobby level
suites.
TERMS OF PURCHASE
One Century Centre was purchased from an unaffiliated third party for
$19,875,000. Funds for the purchase came from a borrowing under the Company's
existing secured line of credit with the First National Bank of Boston (as
agent) as well as cash reserves on hand.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
As of the date of this 8-K, the financial statements and proforma financial
information related to this property is not available but will be filed by the
Company on Form 8-K not later than November 26, 1997.
No information is required under Items 1,3,4, and 6, and these items
have therefore been omitted.
By: /s/ Richard L. Rasley
Richard L. Rasley, Secretary
