Accenture’s Expansion Nets Firm’s Name in Lights on Chicago Office Tower

CHICAGO—Global professional services company Accenture has significantly expanded operations at 500 West Madison here, thus becoming the anchor tenant at the 40-story office tower. In recognition, building owner KBS has rebranded the property as the “Accenture Tower.”

Accenture signed a new lease of 152,454 square feet, increasing its presence at the 1.4-million-square-foot tower to a total of 226,486 square feet. The property is owned by KBS Real Estate Investment Trust III. By the summer of 2022, Accenture will expand to seven floors at the Accenture Tower, bringing together in one location its 6,200 Chicago-based employees.

Accenture, which is headquartered in Dublin, Ireland, has more than 50,000 employees and operations in 42 cities in the United States.

“Our new agreement with Accenture is a testament to the building’s exceptional amenities and prime location, which are aimed to provide tenants a unique work-play lifestyle,” said Dan Park, SVP at KBS and asset manager for the property. “Anything one could possibly need during their workday is offered in the Accenture Tower. We are pleased to welcome Accenture as the new anchor tenant and look forward to continuing our partnership.”

Kyle Kamin, Todd Lippman and Michael Dash of CBRE represented Accenture PLC and Wendy Katz and Matt Lerner of Cushman & Wakefield represented KBS in the transaction.

“The building brings optimal flexibility and growth for Accenture as it unites its Chicago-based people in one location,” said Katz, executive director, agency leasing for Cushman and Wakefield. “Accenture Tower is situated in the center of the hottest Chicago submarkets, including the West Loop, Fulton Market and River North, making it a prime location for Accenture’s people.”

Chicago Mayor Lori E. Lightfoot joined Illinois Gov. J.B. Pritzker, City Colleges of Chicago and Accenture executives in announcing the firm’s expansion, which will create 600 new tech jobs in Chicago. As part of its investment in Chicago, the firm has also committed to grow its apprenticeship program to 180 students completing the program by the end of 2022.

“The City of Chicago is committed to inclusive growth that ensures the success of a thriving downtown extends across all of our city’s neighborhoods and communities,” Mayor Lightfoot said. “We thank Accenture for their continued investment in the City of Chicago, and for their partnership with the City Colleges of Chicago to expand apprenticeships that will unlock new career opportunities for our city’s students.”

“I’m thrilled that Accenture is expanding its footprint in Illinois, advancing its commitment to innovation and technology, and directly investing in our workforce through apprenticeships that create new opportunities for communities that need them,” said Governor Pritzker. “This is the type of partnership that benefits students, workers, and the economy as a whole. It’s clear the state of Illinois is open for business and I look forward to continuing to work with companies like Accenture to grow our economy and create jobs across the state.”

To accommodate growing demand among its clients, Accenture will expand its Innovation Hub at Accenture Tower, a state-of-the-art destination where clients work side-by-side with Accenture teams to rapidly ideate, prototype and scale innovative products and services for the digital economy.

“Our clients, who are leaders in virtually every industry, are under tremendous pressure to harness the power of disruption for competitive advantage,” said Pallavi Verma, senior managing director at Accenture who leads its business in the Midwest U.S. “With our continued investment in Chicago, we are bringing innovation to our clients, working side-by-side with them to reimagine their futures and solve their biggest challenges.”

In Chicago, Aon and Accenture co-founded the Chicago Apprentice Network, which convenes companies from across the Chicagoland area to help advance professional apprenticeship programs. Accenture, in partnership with The Chicago Apprentice Network, created a national apprenticeship program playbook, “Bridging the Gap Between Talent and Opportunity,” to help other local Chicago employers jumpstart similar programs and incorporate apprentices into their workforces.

Accenture’s apprenticeships in Chicago are 12 months long and include formal learning, on-the-job training, coaching, and paid work on average of 36-40 hours per week. Upon completing the program, apprentices have the opportunity to convert to full-time employment with Accenture.