Check Out This Aggressively Priced Sublease at 111 E. Wacker

December 20, 2018

Patrick Brady

Market Expert

Assistant Director, Savills Studley

Illinois Licensed Real Estate Broker

Call 312-595-2987

66,768 SF Available Over Two Floors At Iconic Chicago Riverfront Property

 

History

You might not know its name, but if you’ve ever spent time in Chicago, you’ve probably admired the building at 111 E. Upper Wacker, otherwise known as One Illinois Center.

111 E Wacker, the black building at center.

This formidable structure stands with other storied properties that line the Chicago river and give the city its iconic big-shoulders vibe. 111 E Wacker, however, has a unique distinction: it’s located on the site of Fort Dearborn. This outpost, built in 1803, was the US Army’s westernmost post at the time, and effectively put the small encampment of Chicago on the map. From the site of Fort Dearborn, towering grain elevators would become the first skyscrapers, which in turn were eventually replaced by One Illinois Center.

The building, which broke ground in 1967, was one of the final works of Chicago darling Mies van der Rohe. Built in the International Style, it emphasized volume, a regular facade, and an elegance of proportion to celebrate the beauty of industrial materials on a site once dedicated to industry. At the time, Mayor Daley called the development of 111 E Wacker “the greatest real estate deal in history.”

Don’t want to take Mayor Daley’s word for it? Then listen to Superman — in the 2016 movie Batman v Superman: Dawn of Justice, the lobby of 111 E Wacker was used for the set of The Daily Planet, Clark Kent’s employer.

 

Space

Here are the perks of this superhero-worthy property:

  • Up to 66,768 SF is available on the 15th and 16th floors, which can be divided for any size company or leased all in one.
  • The space is aggressively priced at a below market rate of $20.00 per SF gross — almost half the downtown average.
  • The sublease is ready for immediate move-in and comes fully furnished and wired with modern, sleek furniture and full tech capacity.
  • The current sublease term is through July 2019, but an extended term is available direct with landlord.
  • The 15th floor is set up with 33 private offices, 192 workstations, 9 conference rooms, and one large kitchen. The 16th floor also has 33 private offices, with 136 workstations, 14 conference rooms, and one large kitchen. (In case you’re wondering, this comes to a total of 66 private offices, 138 workstations, and 23 conference rooms.)
  • Both the 15th and 16th floors have floor-to-ceiling windows and glass-fronted offices, providing gorgeous views of downtown Chicago and the river below. The space is outfitted with modern polish and a highly efficient open plan that also provides plenty of flexibility for quiet work and meetings of all sizes

 

Location

Without even leaving the building, tenants can access a variety of amenities including a barber shop, laundry service, full gym, FedEx center, access to the pedway, and the Shops at Illinois Center. Potbelly and Sopraffina are on site as well.

Located on the Chicago River, the building is in close proximity to the Riverwalk, as well as the bustling Loop neighborhood. Casual bites like Wildberry, Naf Naf, Sweetwater, Broken English, and Stan’s are just a short walk away. Taking someone out for dinner? The Loop has no shortage of upscale dining, including Shaw’s Crab House, Tortoise Supper Club, Stetsons, McCormick & Schmick’s, and Siena Tavern. This historic buildings rubs elbows with landmarks like Millennium Park, the Wrigley Building, and the Michigan Avenue Bridge, and is just across the river from Pioneer Court and Tribune Tower.

Tenants like Taft Law, the Chicago Architecture Center, Combined Insurance, Potter Bolaños, and the International Interior Design Association all make 111 E Wacker their home, and rumor has it that Amazon is even planning to open a Go store there.

 

This aggressively priced space is perfect for any tenant looking for a great cost and easy move-in in the heart of Chicago. It won’t be on the market for long, so shoot us an email for details!

 

Recent Posts


Wingate Hughes’ Former Space Available for Sublease at

  • By Jon Glass | February  28,  2018

3,000 SF Sublease with Term Through June 2020 Perfect for Tech/Start-Up Companies   A large portion of the spaces featured here on the Washington, DC page of TechOfficeSpaces.com have been designed by Wingate…

West Loop Steal

  • By Tech Office Spaces | June  07,  2017

It's not often we see a direct leasing opportunity (not a sublease) for sub $30/rsf gross (all-in). That's why 120 N. Racine caught our attention. They are asking $22/rsf gross…

Warehouse-Style Office Space Underway in Shaw

  • By Jon Glass | March  01,  2019

Brand New Warehouse-Style Office Space Under Construction in Shaw   All too often I am asked about warehouse-style office space in DC. Aside from the Wonder Bread building, U-Line Arena…