Schiff declined an option to terminate its lease early, extending its current lease by three years and expanding into an additional 10,000 sf in the 110-story building. The law firm now occupies more than 217,000 sf on floors seven, 66, 68, 69 and 71 through 75. The company, which was a charter tenant when the building opened in 1973, will occupy this space through at least 2024. Bob Chodos, principal, and Steve Levitas, SVP, with Colliers Bennett & Kahnweiler represented Schiff in the lease.

Bank of America, tenants since 1995, declined a similar option in its lease to leave the building. The company will maintain key operations in its 181,000 sf, occupying floors 25 through 28 fully, until at least 2015. Steve Steinmeyer, EVP at Jones Lang LaSalle, represented Bank of America in the transaction.

The 3.8-million-sf Sears Tower is owned by 233 S. Wacker LLC, which includes American Landmark Properties, the Chetrit Group and the Moinian Group. The asking lease rate in the building is from the mid-teens to the mid-20's. The building also signed about 100,000 sf in new leases in August, bringing the building occupancy to around 81%.