CRE Midwest

Studley represents tenants in three new deals at Inland Steel Building

Studley has completed three lease transactions at the landmark Inland Steel Building, 30 W. Monroe St., for a total of 32,083 square feet.

Studley has completed  three lease transactions at the landmark Inland Steel Building, 30 W. Monroe St., for a total of 32,083 square feet.

An extensive renovation was recently completed at the property, preserving and restoring its architectural heritage while updating its systems, appearance and functionality to meet the needs of 21st century tenants.

Robert Sevim, a Studley executive managing director in the Chicago office, represented all three tenants in the transactions. The transactions include:

  • NELSON, a global design, architecture, engineering, space planning and space management firm, leased the entire second floor, representing 9,384 square feet. NELSON will relocate in April from 55 W. Wacker Drive. The transaction was co-brokered with Kyle Kamin of CBRE.
  • The Jacobson Group, an international search and staffing firm for the insurance industry, took the full 15th floor for 12,907 square feet. Currently located at 120 S. LaSalle St., the firm will occupy its new space in May.
  • The law firm of Kerns Frost & Pearlman, which provides legal services primarily to financial industries, leased 9,792 square feet on the 16th floor. The firm will be relocating from 70 W. Madison St. in September. Assistant Director Kevin Donohoe of Studley assisted Sevim in the transaction.
“The building has really started to resonate with tenants who value the landmark property’s thoughtful union of classic and contemporary elements,” Sevim said. “Importantly, the open floor plan is economically advantageous in terms of superlative space efficiency – the ability to space plan within a  highly flexible interior – and supports the dynamic and collaborative work environments sought by many of today’s companies, regardless of industry type."

Built in 1957 and designed by Skidmore Owings & Merrill, the 19-story glass-and-steel tower is the largest project ever erected employing the principle of clear-span construction, meaning there are no interior columns.

Additional building amenities will include Specialty’s Café & Bakery, which took 6,000 square feet on the ground floor, a fitness facility and shared conferencing. A number of sustainable building features were also incorporated, with the objective of LEED certification.

Gary Denenberg and Sara Spicklmire of MB Real Estate are handling the leasing for the building ownership, New York-based Capital Properties.