X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-Jones Lang LaSalle has increased the occupancy to 75% at 600 W. Chicago Ave. in the River North neighborhood. In the past 12 months, the percentage of sf leased has increased by 15%, says leasing agent Brad Despot.

In the past two years, Jones Lang LaSalle has leased about 450,000 sf. “Specifically in 2006 we have attracted some pretty big names, and I think that kind of picked up on the momentum of 2005,” he says.

One of the major new leases was the Big Ten Network, who signed in August a lease for 44,000 sf of office and studio space. Celsis Inc., a provider of products and services to the pharmaceutical and consumer products industries, will be approximately doubling their office space to 18,000 sf on the sixth floor, Despot says. Both Big Ten Network and Celsis are expected to take occupancy this summer.

Echo Global Logistics had been sharing space with Innerworkings in the building and has signed a lease for 28,000 sf of their own space, Despot says. Existing tenants Jump Trading is more than doubling its space from 13,000 sf to 28,000 sf and ProActive Marketing nearly doubled their space from 13,000 sf to 32,000 sf.

Despot says the increase in the occupancy rate is partly due to more people becoming aware of what the building has to offer. “I think, for the most part, it is people sort of starting to realize the building’s viability to major uses,” he says. The building offers many perks such as a loft-feel, the ability for large open layouts, a shuttle that runs from the building to major commuter train stations and to Michigan Avenue during lunchtime and the River Walk. There are also a few restaurants in the building, such as Japonais, Kitsch’n River North and the Motel Bar.

The class B building was built in 1908 and renovated in 2000, and was initially renovated to cater to the technology industry. The 1.6-million-sf building now serves firms across a wide spectrum of industries including Bankers Life and Casualty Co. and the Wrigley Co.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.