WILLIS TOWER. Chicago, IL. (The Former Sears Tower) 233 South Wacker Drive

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1 OVERVIEW HIGHLIGHTS PROPERTY DESCRIPTION LOCATION & MARKET A RICH HISTORY CONTACT CONFINDENTIALITY AGREEMENT Newmark Knight Frank and Eastdil Secured have been retained as the exclusive brokers for the debt and equity recapitalization ( the Interest ) of Willis Tower (the former Sears Tower) at, Chicago, Illinois ( the Tower ). At a soaring 1,450 feet and 110 stories high, the famed Willis Tower stands alone atop Chicago s pristine skyline. An unparalleled vision of ingenuity, the Tower s legacy reaches far and wide, attracting millions of visitors from around the world. This global icon enjoys an unrivaled presence as the tallest building in the western hemisphere. With over 30% of its revenue derived from non-office related income, Willis Tower is much more than an office building. The instantly recognizable Tower contains approximately 4 million square feet, including 250,000 square feet of retail space. The Tower offers the unique opportunity to invest in a stabilized office asset with opportunistic upside from the Tower s diverse business lines, including the Skydeck, rooftop broadcast facilities and tremendous untapped retail potential. Additionally, there is exceptional development opportunity with a portion of the parcel approved for a 500- room hotel. The information in this online presentation is provided without representation or warranty. Prospective bidders should consult legal counsel with respect to the zoning and development potential of the Tower.

2 OVERVIEW HIGHLIGHTS PROPERTY DESCRIPTION LOCATION & MARKET A RICH HISTORY CONTACT CONFINDENTIALITY AGREEMENT A Celebrated Office Presence Located in the heart of downtown Chicago, the office component of the Tower is leased to an impeccable list of strong national and international tenants. With its composition of long-term leases, the building faces minimal rollover and a stable expiration schedule among the larger tenants such as United Airlines, Willis Group Holdings and Chubb Insurance. The Tower has outperformed the Chicago office leasing market every year since its completion, and over 1 million square feet of new deals have been signed at the Tower in the past 24 months alone, including over 650,000 square feet with United Airlines. Enthusiastic Municipal Support Given its status as one of North America s most recognizable landmarks and Chicago s most important icon, the Tower benefits from extraordinary municipal support. As the city s largest taxpayer, various programs and incentives have been created to bring tenants to the Tower. The City of Chicago is currently considering a proposed $85 million tax increment financing (TIF) bond program for the Tower, with $33 million set aside for the development of a net-zero-energy hotel, and $52 million designated towards the green retrofitting of the Tower to meet LEED Platinum certification standards. Assumable In-Place Financing Investors have the ability to assume up to $780 million of debt on the Tower. Largest Broadcasting Center in the U.S. The irreplaceable broadcasting center is the largest antenna site of its kind in the United States. The communications tower serves as the broadcasting hub for virtually all of the major television and radio stations in the Midwest.

3 OVERVIEW HIGHLIGHTS PROPERTY DESCRIPTION LOCATION & MARKET A RICH HISTORY CONTACT CONFINDENTIALITY AGREEMENT A Truly Unique Skydeck Experience On a clear day, visitors to the Skydeck can see four states from its staggering height. At 1,353 feet above ground, the Tower s 103rd floor observation deck currently attracts over 1.3 million visitors a year and has the capacity to accommodate up to 3 million. The inimitable Skydeck is a must-see for any visitor to Chicago. Approximately $10 million of capital improvements have been invested in the Skydeck over the past 18 months, including the addition of The Ledge experience, four fully enclosed glass boxes that protrude from the Skydeck, which offers unparalleled panoramic views, including unobstructed views below as visitors look down through the glass beneath their feet. Revenue has doubled under new management since 2004, and attendance continues to rise, with the single day attendance record recently set on the 4th of July, The Skydeck also benefits from a lease that includes percentage rent with a merchandising and souvenir operator. A separate 10,000-square-foot retail store located in the Tower s below-grade space where visitors exit the attraction recently opened this spring and will add significantly to retail sales. Untapped Retail Opportunity While current ownership has enjoyed great success in drawing top-tier local and national restaurants to the Tower s lobby and mezzanine spaces, phenomenal opportunity lies with the current vacancy of the Tower s best retail space located in the southwest corner of the lobby and the redevelopment of the Tower s lower level retail spaces. 150,000 of the 250,000 square feet of retail space is located on two lower levels, which are accessible from the lobby via escalators. The space is one of the largest available retail blocks in the West Loop and has the potential to draw a major national anchor tenant, as well as customers from surrounding West Loop office buildings, the approximately 12,000 people who work in Willis Tower and the 1.3 million annual visitors to the Skydeck. Additional retail opportunity lies in the existing event space which encompasses the entire 99th floor. This space has been virtually unused but has the potential for development into one of Chicago s premier nightlife destinations.

4 OVERVIEW HIGHLIGHTS PROPERTY DESCRIPTION LOCATION & MARKET A RICH HISTORY CONTACT CONFINDENTIALITY AGREEMENT Premium Naming Rights The Tower s naming rights are leased to Willis Group Holdings for significant additional income for the remainder of its lease. Other opportunities to add additional income from naming rights include corporate sponsorship of Tower components such as the Skydeck and the 99th floor event space. Champion for the Green Initiative There is an opportunity to recapture the world s imagination as the planet s tallest green retrofit building and serve as a demonstration project to the world. As much as 60% of the estimated cost to achieve LEED Platinum certification for the Tower can be covered by tax subsidies, incentives and vendor concessions. The project would extend the Tower s life by 50 to 60 years and slash base building energy consumption by up to 80%. Click here to view video on Greening Rare Hotel Development Opportunity Willis Tower has zoning approval for a 500-room, 600,000-square-foot hotel/conference and events center. Plans include 30 corporate suites and 40,000 square feet of retail. The hotel will be developed as a net-zero-energy hotel. Click here to view video on hotel

5 OVERVIEW HIGHLIGHTS PROPERTY DESCRIPTION LOCATION & MARKET A RICH HISTORY CONTACT CONFINDENTIALITY AGREEMENT The property was ingeniously conceived and engineered by renowned architecture firm, Skidmore, Owings and Merrill LLP. The infrastructure at the time of construction was decades ahead of its time and is still more advanced than many newly constructed office buildings today. Approximate Tower Square Footage Office 3,600,000 Retail 250,000 Skydeck and Broadcast 60,000 Total 3,910,000 Site Size 2.96 acres Year Built 1973, renovated in 1992, 2004, and 2009 Office Floor Plates Lobby Four distinct floor plates accomodate tenants of various sizes Light filled, three story lobby with inviting retail Main entrance on the west side of the building on Wacker Drive with second entrance on the east side via Franklin Street

6 OVERVIEW HIGHLIGHTS PROPERTY DESCRIPTION LOCATION & MARKET A RICH HISTORY CONTACT CONFINDENTIALITY AGREEMENT Amenities Security Elevator Zoning Seven Restaurants State-of-the-art gym Members only executive dining room and meeting facilities Among the best security systems in place in the world Tenants and visitors are never required to ride more than two elevators to reach their floor from the lobby Zoned for office and mixed use with a portion of the parcedl approved for a 600,000-square foot, 500-room hotel. Parking Covered Executive Parking on Premises Easement on Spaces Across the Street Total 270 spaces 1,000 spaces 1,270 spaces

7 OVERVIEW HIGHLIGHTS PROPERTY DESCRIPTION LOCATION & MARKET A RICH HISTORY CONTACT CONFINDENTIALITY AGREEMENT A Grand Presence Downtown Downtown/West Loop presence with main entrance on South Wacker Drive. Wacker Drive is the primary office corridor at the heart of Chicago s Central Business District. It is home to the majority of new office buildings built over the past 25 years and has the most expensive office rents in the city. The location is far superior to the Michigan Avenue office market, home to Chicago s second most iconic office building, the John Hancock Center. Fortune 500s Call Chicago Home Chicago is the financial center of the Midwest. Its downtown office submarket commonly referred to as the Loop, serves as the home to one of the world s largest commodities markets as well as the corporate and regional headquarters for a number of prominent Fortune 500 companies, including, United Airlines, Aon Corporation, Boeing, Exelon and RR Donnelley. Third Largest Office Market in the U.S. The Chicago metro area boasts 445 million square feet of office space, placing it behind only New York and Los Angeles. Trend to Relocate/Consolidate in City Firms like Willis Group Holdings and United Airlines have consolidated their Chicago area offices in the city to enhance corporate synergies and take advantage of tax incentives, grants, job-training programs and a larger employee base.

8 OVERVIEW HIGHLIGHTS PROPERTY DESCRIPTION LOCATION & MARKET A RICH HISTORY CONTACT CONFINDENTIALITY AGREEMENT The Best Vacant Spaces on the Market The Tower s current vacancies consist of some of the building s best spaces, including space formerly occupied by Goldman Sachs and suites built out to high-end hedge fund specs. The views from the spaces available in the Tower are unparalleled. Unparalleled Proximity to Major Transportation Hubs 1.5 blocks from Union Station 5 blocks from Ogilvie/Northwest Station 1 block from Chicago s CTA Elevated Train System 2.5 blocks from LaSalle Station 2 minutes from entrances to Interstate 290 (Eisenhower Expressway/Congress Parkway) and Interstates 90/94 (Dan Ryan and Kennedy Expressways)

9 OVERVIEW HIGHLIGHTS PROPERTY DESCRIPTION LOCATION & MARKET A RICH HISTORY CONTACT CONFINDENTIALITY AGREEMENT 110-story, 1,450-foot (442 m) skyscraper At the time of its completion in 1973, Willis Tower was the tallest building in the world, surpassing the World Trade Center towers in New York. It held this rank for nearly 25 years. It is still the tallest building in the Western Hemisphere and the third tallest building in the world. Its revolutionary bundled tube design introduced a level of efficiency never before realized in a tall office tower. World s Tallest Skyscrapers

10 OVERVIEW HIGHLIGHTS PROPERTY DESCRIPTION LOCATION & MARKET A RICH HISTORY CONTACT CONFINDENTIALITY AGREEMENT For further information please contact: James D. Kuhn President Newmark Knight Frank Direct Line Fax jkuhn@newmarkkf.com Douglas L. Harmon Senior Managing Directort Eastdil Secured Direct Line dharmon@easdilsecured.com Stephen J. Clifton Head of City Investment Knight Frank LLP +44 (0) Direct Line +44 (0) Fax stephen.clifton@knightfrank.com Stephen Livaditis Senior Managing Directort Eastdil Secured Direct Line slivaditis@easdilsecured.com