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(To read more on the net lease market, click here.)

CHICAGO-Gallup Organization has taken 17,442 sf on two floors at 111 S. Wacker Dr., making a move from 120 N. LaSalle St. The pollsters will take space on the 48th floor of John Buck Co.’s recently-developed building, as well as part of the 47th floor of the 51-story building.

Although terms were not disclosed, asking net lease rates at 111 S. Wacker Dr. start at $25 per sf, according to Black’s Guide. Occupancy at the one-million-sf tower, redesigned after September 11, 2001, is 87%. That compares to an asking rate of $20 per sf at Lincoln Property Co.’s 546,000-sf building at 120 N. LaSalle St., sold by the Utah State Retirement System for $70.3 million in 2003.

Anchored by Deloitte & Touche, the tenant roster at 111 S. Wacker Dr. also includes Lord Bissell & Brook LLP, RR Donnelley, Grippo & Elden LLC, Ventas Realty and Bloomberg. NAI Hiffman vice president Robin Peck represented locally-based Gallup Organization in negotiations with Kevin Morgan of the John Buck Co.

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