Office N Illinois
The Spaces Fulton Market facility at 159 N. Sangamon Street in Chicago.

ARCO/Murray completes two coworking spaces in Chicago

ARCO/Murray recently completed two coworking office, event and work environments for Spaces, an Amsterdam-based company, in Chicago’s Fulton Market and Lincoln Park neighborhoods. The 32,000-square-foot Fulton Market facility is located at 159 N. Sangamon Street and the 24,000-square-foot Lincoln Park facility is located at 1500 N. Halsted Street.

Office N Illinois
The success of Sterling Bay’s ambitious Lincoln Yards development may depend on extensive transit infrastructure changes.

The central business district, decentralized

It wasn’t that long ago that Chicago’s central business district was confined to the Loop. Over the years, office space has crept outward, spilling over the banks of the river to the north and to the west. So just what is it that entices corporations to move out to the fringes of the CBD?

Office N Illinois
ESD moves interactive headquarters into Willis Tower

ESD moves interactive headquarters into Willis Tower

Chicago’s Willis Tower has nabbed another corporate relocation as ESD (Environmental Systems Design, Inc.) has moved it headquarters into 47,000 square feet over one full floor and part of a second in the iconic building. The engineering, design and consulting firm hopes their new space will serve as a “living lab” to engage employees and clients alike.

Office N Illinois
625 W. Adams.

625 W Adams shows off its amenities

Developed by CA Ventures and White Oak Realty, the 20-story 625 W. Adams is ready to welcome tenants later this month. The building will deliver 438,184 square feet of office space to Chicago’s West Loop, but it will also be bristling with amenities.

Office N Illinois
Presidents Plaza office towers sell for $147M in Chicago's O'Hare market

Presidents Plaza office towers sell for $147M in Chicago's O'Hare market

JLL’s Capital Markets experts completed the sale of Presidents Plaza, a pair of Class A office buildings at 8600 & 8700 W. Bryn Mawr Avenue in the O’Hare submarket of Chicago. New York-based alternative investment firm Angelo, Gordon & Co. bought the assets for $147 million. The seller, a partnership between Chicago’s GlenStar Properties, LLC and a global real estate investment manager, has owned the property since 2006. Glenstar is currently the buildings’ leasing and managing service provider, and will partner with Angelo, Gordon & Co. to provide services and building upgrades moving forward.

Office N Illinois
Oak Brook's Commerce Plaza refinances for $89.4M

Oak Brook's Commerce Plaza refinances for $89.4M

JLL’s Capital Markets experts arranged an $89.4 million, long-term loan to refinance Commerce Plaza, a 556,463-square-foot office complex in Oak Brook, Illinois. The fixed rate, non-recourse loan was secured on behalf of owners Zeller Realty Group and Olympus Ventures, LLC. The financing was provided by PGIM Real Estate Finance, the commercial mortgage finance business of PGIM, part of Prudential Financial, Inc.

Office N Illinois
Windy Point II in Schaumburg was named the 2018 Regional TOBY Award winner for the 250,000-499,999 Square Feet Category.

BOMA/Suburban Chicago announces 2018 Regional TOBY winners

The North Central Region of the Building Owners and Managers Association (BOMA) International recently announced the Regional winners of The Outstanding Building of the Year (TOBY) Award competition. Four Regional TOBY Award winners are members of BOMA/Suburban Chicago and management teams were notified last week with a surprise visit from members of the BOMA/Suburban Chicago Awards & Recognition Committee and BOMA staff.

Office N Illinois
Construction crews give Willis Tower a face lift, removing the main entrance lobby as part of the building’s $500 million renovation. Photo courtesy Equity Office.

Renovations continue as iconic Willis Tower alters its streetscape

Crews working on Chicago’s Willis Tower have removed the notable “lunchbox” at the base of the high rise. This is part of the building’s $500 million renovation of the skydeck, lobby and streetscape scheduled for a summer 2019 completion. According to Equity Office, the the Blackstone Group-owned management firm for the building, 180 tons of metal and glass will be recycled as the main entrance is demolished.