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
January 3, 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)
2311 West 22nd St., Suite 109, Oak Brook, IL 60521
(Former address of principal executive offices) (Zip 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 December 27, 1997, Great Lakes REIT, Inc. (the "Company") acquired a 270,000
square foot twelve-story, class A office building located at 1900 East Golf
Road, Schaumburg, Illnois ("Centennial Center"). Originally constructed in 1980,
Centennial Center affords not only a distinctive Skidmore, Owings & Merrill
setback design, but also a Z-shaped service core which give maximum flexibility
in space planning. Centennial Center is situated on East Golf Road, directly
across the street from the 2.7 million square foot Woodfield Mall, one of the
country's premier super regional malls. The property features a two-story main
lobby with imported Italian marble walls and terrazzo flooring. The building
contains 259,730 rentable square feet and is currently 96% leased.
TERMS OF PURCHASE
Centennial Center was purchased from an unaffiliated third party for
approximately $24 million. 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).
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 are not available but will be filed by the
Company on Form 8-K not later than March 12, 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
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