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Finance Firm Nearly Triples Footprint in Move to 110 N. Wacker

Headlands Technologies, founded by former Citadel executives, has leased around 45,000 square feet on two of the top three floors at Oak Hill Advisors’ 110 N. Wacker Dr., reported Crain’s Chicago Business. Headlands will relocate to the new office from roughly 16,000 square feet it leases currently on the 46th floor of the office tower at 444 W. Lake St. 

Sources familiar with the lease terms told Crain’s the company’s annual rent will be more than $50 per square foot before taxes and operating expenses, which landlords typically pass along to tenants. That would be among the highest rents ever paid for an office in Chicago.  

Headlands will be located just below private-equity firm Linden Capital Partners. Linden recently leased the top floor, reportedly for a similarly high rent in the skyscraper, which was completed in late 2020 and is formally known as Bank of America Tower

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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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