Office N Illinois

Tegus signs on for 14,195 SF at 120 South LaSalle

Tegus signs on for 14,195 SF at 120 South LaSalle,ph01

Colliers International Chicago’s Tony Karmin and Joe Stevens represented Tegus, a fast-growing primary research platform that powers the decision-making process of institutional investors, in its new 14,195-square-foot, long-term lease at 120 S. LaSalle Street. The firm will move into the Chicago Loop property, owned by Toronto-based Slate Office REIT, in April 2019.

“The new office provides a conducive space for employees to collaborate, with an open floor plan, breakout areas and kitchen in the heart of the space,” said Tegus co-founder Michael Elnick. “The space allows us to continue to attract some of the top talent in Chicago and aligns well with our future growth plans.”

Tegus sells services and subscriptions to buy-side investors including hedge funds, long-only funds, family offices and mutual funds, among others. The firm’s mission and value propositions have enabled it to grow headcount by 20 employees in 2018 and its customer base by 500 percent, while also receiving EDGE credits from the State of Illinois. The company plans to move 45 employees into the brand new, high-end technology space, which was designed specifically for growth and expansion up to 100 people.

According to Karmin, Tegus was attracted to the space because it offered an efficient layout with natural light coming from the perimeter window line as well as the vintage building’s interior light court. Tegus was also sold on ownership plans to upgrade its amenity package to include a “state-of-the-art” roof top lounge and fitness center. “Employers want to provide their employees with a ‘cool’ work atmosphere, and today that includes modern, individual workspaces in well-amenitized buildings,” said Karmin.

“We are very excited to welcome Tegus to 120 South LaSalle, where we have been actively investing in the building in order to offer the exceptional amenities today’s tenants are seeking,” said Steve Hodgson, managing director for Slate. “Chicago is a key market for us and as such we are committed to growing our portfolio here and making investments for the long term.”

Slate was represented by JLL’s Mason Taylor.