Foreign buyers snapping up Chicago realty

First of two parts

It's cheap, it's productive, it's rock-solid.

It's U.S. real estate, and no wonder foreign investors want tobuy America with every yen, franc and pound they can find.

Last year, the Japanese, Swiss and English demonstrated thatthey think it makes sense to send more capital into this country topick up buildings they perceive to be among the great bargains of theworld.

Such prominent Chicago structures as Prudential Plaza; theAvondale Center at 20 N. Clark; the 190 S. La Salle building; andthe Inland Steel Building are now at least half-controlled byoverseas investors. Estimates here are that 10-15 percent ofChicago's first-class …