CHICAGO-North American Co. for Life and Health Insurance hasagreed to lease 41,600 square feet at Congress Center, at 525 W.Van Buren, for its headquarters. The company cut its formeroccupancy in half for the new 10-year deal.

Cal Wessman, EVP with CB Richard Ellis, says it took about ayear to negotiate the aggressive agreement at the522,000-square-foot building. He was joined by Scott Brandwein andJon Milonas in putting together the deal, while Mark Parrish andSara Spicklemire with Grubb & Ellis represented the group ofinvestors that own the property.

The deal reportedly allows the tenant to consolidate its spaceto one and a half floors. Tenant-favoring leases are still popular,Wessman tells GlobeSt.com, because of the still-slow economy.“Landlords are eager to get any new tenants out there, and arereally motivated to keep existing tenants, like in this case,” hesays.