Sidley law firm anchor deal set to launch construction of Chicago's first new downtown office tower in years
By
Brian J. Rogal
Summary
Sidley, one of Chicago's largest law firms, has agreed to occupy more than half of a proposed 1-million-square-foot West Loop office tower at 725 W. Randolph St., moving over 1,500 employees from its current location at 1 S. Dearborn St. This anchor tenant deal with developer Related Midwest is expected to enable financing and kick off construction of downtown Chicago's first new office skyscraper in years, signaling a potential revival in the city's commercial real estate market.
Source
bskySidley law firm anchor deal set to launch construction of Chicago's first new downtown office tower in yearschicagotribune.comKey quotes
· 3 pulledSidley will move more than 1,500 employees from 1 S. Dearborn St. in the Central Loop to a 1-million-square-foot high-rise that developer Related Midwest plans to build at 725 W. Randolph St.
Financial institutions typically require developers to find an anchor tenant before they fund the construction of any proposed office skyscrapers
One of Chicago's largest law firms is ready to occupy more than half of a proposed West Loop tower, a deal likely to kick off construction of the first new downtown office skyscraper in years.
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