CHICAGO-The Regional Transportation Authority (RTA) has leased 40,000 sf in the historic 175 W. Jackson building, a 1.46 million-sf structure originally built by D.H. Burnham & Co. in 1912, the year that renowned Chicago architect Daniel Burnham died. The building, originally known as the Insurance Exchange Building, was completely renovated in the late 1990s, including the addition of modern telecommunications wiring, but it retains its pre-World War I enameled brick and terra cotta exterior styling.

The RTA, created in 1974, is responsible for the budget and oversight of the Chicago Transit Authority (CTA), Metra (suburban Chicago) commuter rail and the Pace suburban bus system, as well as regional transit planning issues. Currently located at 181 W. Madison in Downtown, the RTA will relocate to 175 W. Jackson in November 2002.

Chicago-based Equis Corp represented the transit agency in negotiation, and Menahem Deitcher of 175 LLC represented building ownership. According to Equis, it is a good time to be shopping for space in the Downtown office market, considering the various lease and sublease options currently on the market. Terms were not disclosed, but asking rental rates at 175 W. Jackson are $28 per sf to $29.95 per sf gross.

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