to stop development until the engineering problem could be resolved, resulting in a credit crunch. The situation is similar to the one faced during the construction of 111 West Wacker, then known as the Waterview Tower. Wolman's bankruptcy resulted in John Hancock taking over the project, which retained the original design, architect, engineer, and main contractor. The building's first resident was Ray Heckla, the original building engineer, responsible for the residential floors from 44 to 92. Heckla moved his family in April 1969, before the building was completed. The 1988 film Poltergeist III was set at the John Hancock Center and was filmed in early 1987. 21st century On December 10, 2006, the non-residential portion of the building was sold by San Francisco-based Shorenstein Properties for $385 million and was purchased by a joint venture of Chicago-based Golub & Company and the Whitehall Street Real Estate Funds. Shorenstein Properties had bought the building in 1998 for $220 million. Golub defaulted on its debt and the building was acquired in 2012 by Deutsche Bank, who subsequently carved up the building. The venture of Deutsche Bank and New York-based NorthStar Realty Finance paid an estimated $325 million for debt on 875 North Michigan Avenue in 2012 after Shorenstein Properties defaulted on $400 million in loans. The observation deck was sold to Paris-based Montparnasse 56 Group for between $35 million and $45 million in July 2012. That same month, Prudential Real Estate Investors acquired the retail and restaurant space for almost $142 million. In November 2012, Boston-based American Tower Corp affiliate paid $70 million for the antennas. In June 2013, a venture of Chicago-based real estate investment firm Hearn Co., New York-based investment firm Mount Kellett Capital Management L.P. and San Antonio-based developer Lynd Co. closed on the expected acquisition of 875 North Michigan Avenue's of office space and 710-car parking deck. The Chicago firm did not disclose a price, but sources said it was about $145 million. This was the last step in that piecemeal sale process. In May 2016, Hearn Co. announced that they were seeking buyers for the naming rights with possible signage rights for the building. Hustle up the Hancock is an annual stair climb race up the 94 floors from the Michigan Avenue level to the observation deck. It is held on the last Sunday of February. The climb benefits Respiratory Health Association. The record time as of