Amancio Ortega Buys Chicago Tower for $550 Million

Pontegadea Inversiones SL, the family office of Zara founder Amancio Ortega, acquired the 51-story One North Wacker tower in Chicago for approximately $550 million. The landmark skyscraper is leased to major firms, including PwC, UBS Group AG, and Fitch Ratings, making the transaction one of the largest U.S. office deals of the year.

This acquisition expands Ortega's existing holdings in Chicago, which already include a hotel, a residential tower, and the former Esquire Theater building. The investment is part of a broader global strategy that has recently seen high-value acquisitions in Australia, the United Kingdom, and Paris.

Ortega funds these purchases through substantial dividends from Inditex SA. The fashion retailer is expected to provide a record €3.2 billion in dividends in 2026 to support the real estate portfolio.