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CHICAGO-Chicago Community Trust, one of the largest local foundations in the US, is taking 23,232 sf at 111 E. Wacker Dr., relocating to larger quarter from 222 N. LaSalle St. In addition to picking up 5,000 sf, Chicago Community Trust took advantage of more functional space as well as more flexible lease terms, brokers involved in the deal say.

The building’s owners, Carlye Group and Lincoln Property Co., took the Illinois Center office tower off the market this summer after a Phoenix-based company backed off its $150-million bid for the property. That followed an offer by Jackson, MS-based Parkway Properties, Inc., which offered $130 million for the 1-million-sf building before buying a neighboring Illinois Center office property, 233 N. Michigan Ave.

Chicago Community Trust was represented by a Julien J. Studley, Inc. team that included corporate managing director Lisa Davidson, executive vice president Richard Schuham and associate Dawn Clayton. Managing director of project management services Rich Dale will oversee the tenant improvements as well as the move.

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