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ABA Restructures, Renews 161K-SF Chicago River North Deal
The American Bar Association (ABA) restructured and renewed its 161,000-square-foot lease at Diversified Real Estate Capital’s and American Realty Advisors’ 321 North Clark Street in Chicago. The legal industry professional membership organization has been headquartered at the 35-story, 897,000-square-foot property since 2004, and will continue to occupy space in the River North building’s 17th through 22nd floors.
The ABA will give up of a portion of ground and lower floors to the building’s new ownership. That space is being repositioned by Lettuce Entertain You Enterprises, with two restaurants and a special events venue along the revitalized Chicago Riverfront.
Savills Studley’s Eric Feinberg, John Goodman, Joe Learner, Renae Bradshaw and Rich Dale represented the ABA. Hines’ Brian Atkinson and Patrick Philbin advised the landlord.
Goodman says, “… the ABA was able to restructure and extend its lease, gain tenant improvement concessions to facilitate a new work environment and achieve additional concessions to lower overall rent expense.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Lease
