search

The Real Deal Logo

Trending

Glossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseMichael Stern pays $61M for Brickell site of Dolce & Gabbana supertallMichael Stern pays $61M for Brickell site of Dolce & Gabbana supertallDevelopers have a new tax break. Now they must figure it outDevelopers have a new tax break. Now they must figure it outRedzone founder flips Fisher Island condo at a loss for $19MRedzone founder flips Fisher Island condo at a loss for $19M
Chicago

John Buck back as CEO of John Buck Companies

The firm said it will now put greater emphasis on value-add investing

John Buck and the CNA Center at 333 S. Wabash Avenue (Credit: Wikimedia Commons)
John Buck and the CNA Center at 333 S. Wabash Avenue (Credit: Wikimedia Commons)

Meet the new boss, same as the old boss.

At 74, John Buck is retaking the reins of his namesake development and investment firm after a four-year stint away from managing day-to-day operations as chairman.

The John Buck Company, historically a ground-up developer, announced Thursday it will emphasize adding value to existing properties it buys, and that Buck will be back as CEO. Richard Lindsay is leaving the firm to pursue other interests, the statement said.

Sign Up for the undefined Newsletter

The firm has built or owned several iconic Chicago buildings, including the Leo Burnett Building, which it built and opened in 1989, and 333 South Wabash Avenue, the bright red, 45-story office tower formerly named for its previous anchor tenant, CNA Insurance.

During this cycle, several leadership changes followed. Among them were president Blake Johnson, who left for CBRE in 2015 and John’s son Jack Buck, who left in 2012 to start his own firm, Free Market Ventures.

The firm raised $71.5 million for its sixth fund in December. [Crain’s] — Scott Klocksin

Tags
John Buck Company