CHICAGO—WeWork, an operator of collaborativeworkspaces, has just leased 25,281-square-feet in the AlterGroup's One11 West Illinois St., a 10-story, class Abuilding in the River North neighborhood. Tenants now occupy 97% ofthe 227,604-square-foot building. The new lease continues a goodrun for Alter's properties in the submarket. As reported inGlobeSt.com, the company recently signed two tech firms to 24,350-square-feetin 20 W. Kinzie St., a 17-story building nearby. These also broughtthis building up to 97% occupied, although Googlewill soon vacate a sizable block of space there.

“WeWork is a perfect complement to One11 West Illinois Street'simage because they are known for their sumptuous collaborativespaces that straddle professionalism and high style,” says Alter.“Because the building is located in the city's tightest officemarket and most-prized entertainment district, our marketingstrategy specifically targeted leading entrepreneurial companiesseeking to attract highly skilled millennials.”

“We are delighted to partner with the Alter Group to bringentrepreneurs, startups and freelancers in the Chicago areaWeWork's unique offerings—the space, services and community theyneed to pursue their life's work,” says MarkLapidus, director of real estate at WeWork. “The energyand density of the One11 West Illinois Street neighborhood make itan ideal fit for WeWork's second Chicago location. We can't wait toopen our doors and help accelerate the growth of Chicago's manysmall businesses.”