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CHICAGO-Prime Group Realty Trust’s 33 W. Monroe St. is still 70% vacant, but a significant portion of the glass has been filled by Fireman’s Fund Insurance Co. The national insurance company that paid out claims during the Great Chicago Fire of 1871 is taking 116,650 sf formerly occupied by Arthur Andersen, consolidating space now in three offices, including Sears Tower.

Although terms were not disclosed, Prime Group Realty Trust’s asking net lease rate at 33 W. Monroe St. is $15 per sf. Fireman’s Fund moves into its new quarters Jan. 1. nearly doubling the building’s occupancy.

“They recognized the benefit of a convenient, Central Loop location and the quality of the building,” says co-president and chief investment officer Jeffrey A. Patterson.

While the deal comes at the expense of other Downtown buildings, chairman Stephen J. Nardi sees it as a positive sign for the market. “This lease is a strong sign of a possible uptick in the somewhat down market we have gone through,” Nardi says.

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