CRE Midwest

Wintrust signs lease for 231 S. LaSalle

306000

Wintrust Financial Corporation has entered into a long term lease for the main banking hall, multiple floors, retail space and primary signage to the iconic 231 South LaSalle building.

Wintrust Financial Corporation has entered into a long term lease for the main banking hall, multiple floors, retail space and primary signage to the iconic 231 South LaSalle building.

Built in 1924, the building is located at the base of "the canyon" on the corner of LaSalle and Jackson, across from the Federal Reserve Bank and the Chicago Board of Trade. Once the home of Continental Illinois Bank, the building is considered one of the most recognizable buildings in the Loop and features a banking hall believed to be one of the largest of its kind in the world.

"As Chicago's Bank, with approximately $19 billion in assets, it's important for us to have a prominent home in the city's financial center," stated Edward Wehmer, President and CEO. "This address in the heart of the city will help us continue to grow our commercial and retail banks, mortgage and wealth management."

The building will house a retail bank and mortgage office, Wintrust Commercial Banking operations, currently at 190 South LaSalle, and Wintrust Wealth Management, with more than $19 billion in assets under administration, currently at 222 South Riverside. "This building will allow for further collaboration amongst our commercial and retail bankers, financial advisors and home loan officers to ensure each customer gets the resources and service they've come to expect from Wintrust," commented Wehmer.

"We plan to move into the building in 2015. As we do with all of our community banks, we intend for our new building to be a focal point for the community in the heart of downtown Chicago. Once we occupy the building, we'll not only schedule bank events, we'll work with local community groups and non-profits to hold events and seminars," observed Wehmer.