Chicago & Midwest + Downtown + Office | March 20, 2023

Evolent Eyes Further Downsizing of Loop Offices Following Layoffs

Healthcare consultancy Evolent, which last year subleased about 25,000 square feet of its downtown Chicago office space to Cision, is now looking to further reduce its footprint at 300 S. Riverside Plaza. Crain’s Chicago Business reported that Evolent has added roughly 50,000 square feet to its sublease offering and now hopes to shed more than 122,000 square feet on the 23-story building’s third, fourth and seventh floors, ranking it among the largest sublease listings downtown.

The move comes several weeks after Evolent laid off about 460 Chicago-based employees, a reduction that left the company needing even less workspace than it had even after adjusting to the rise of remote work, reported Crain’s. Evolent’s pullback comes just more than three years after it doubled its footprint at 300 S. Riverside, becoming one of the building’s largest tenants.

CBRE brokers Bill Sheehy and Lisa Konieczka are marketing the 300 S. Riverside space on behalf of Evolent, according to Crain’s.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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