CHICAGO—Amalgamated Bank of Chicago officials say they will open their newly built-out headquarters at 30 N. LaSalle St. on September 8. The bank has signed a long-term lease for the new space with the building's owner AmTrust Realty Corp. In March, Amalgamated sold its long-time headquarters at State and Monroe, which it has occupied since 1972. According to Cook County property records, the bank got $35 million, but bank officials say the move is about more than money.

“At the time of the sale, the State Street real estate market was strong, and the bank thought that this would be a good time to realize the value in the property and at the same time increase its capital position,” Robert M. Wrobel, chairman and chief executive officer, tells GlobeSt.com. “In addition, although State Street served us very well for many years, it was time to find a home in the heart of the financial district that would provide a more efficient use of space. The physical layout of our new space will allow greater communication between departments and foster a more collaborative focus when providing even better service to our customers.”

Garnett Architects designed the 60,000 square foot space at the southwest corner of LaSalle and Washington. Amalgamated will have a retail banking center on the ground floor and corporate offices on the 37th and 38th floors. The bank has 185 employees in its downtown office and will not downsize as a result of the move.

Wrobel adds that Amalgamated did explore both leasing and purchase options, but “in the end we felt that our new home had to be convenient for our employees and customers. If we had decided to purchase new space, we would not be located in the financial district, which we felt was important.” Furthermore, “leasing will not change how the bank operates, other than providing even better service to current and new customers.”