Allston Renews at One Financial Place

CHICAGO-Allston Trading LLC has renewed and extended its lease for 26,000-square-feet at the 40-story One Financial Space. The firm occupies the 12th floor of the 1-million-square-foot office building at 440 S. LaSalle, which is currently 95% occupied. Building owner Behringer Harvard was represented by Jones Lang LaSalle’s Michael Curran, while Allston was represented by Matt Carolan and Bill Sheehy, also of JLL.

Built in 1985 and designed by Skidmore, Owings & Merrill, the building is known as the southern anchor of Chicago’s Financial District and is connected to the Chicago Board of Options Exchange, which in turn connects to the Chicago Board of Trade. Behringer Harvard bought the property from Beacon Capital Partners as part of a portfolio of four buildings in downtown Chicago for $832 million in November 2007. Asking lease rates at the building range from $21 to $22 per square foot net.

The building offers proximity to public transportation, an underground parking garage and 45,000-square-foot landscaped outdoor plaza, with tenants including financial and energy firms. Other amenities include award-winning French restaurant Everest, the 1,000-member Buckingham Athletic Club and Hotel, a full-service concierge, on-site messenger service, conference center, and retail offerings including a food service center, sundry shops, a bank, travel agency and hair salon.

The property is located in the Central Loop submarket, where overall occupancy is around 87%, according to Jones Lang LaSalle’s mid-year office market report. Asking lease rates in the submarket average around $29 per square foot, JLL’s research says.