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Citadel Center Goes Big on Capital Improvements
Even as the Citadel Center at 131 South Dearborn has experienced a spate of large-footprint leases, ownership is springing for a major sprucing-up of the 15-year-old office tower. A partnership including Hines, and advised by Telos Group, is spending more than $100 million on capital improvements.
The renovations include a 10,000-square-foot fitness center that’s free to tenants, a new conference center and an oversized rooftop park with a bar and fire pits. “The new amenities are highly-prized by Chicago’s class A tenants, and Citadel Center at 131 South Dearborn will be the only trophy office tower with a private landscaped rooftop park,” said Tom D’Arcy at Hines. “The new on-site amenity package will rival new construction, and will support future leasing activity.”
Citadel signed a 400,000-square-foot lease in late 2017 to maintain global headquarters at its namesake tower. Most recently, Sprout Social expanded its space by 64,000 square feet.
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