Assistant Director, Savills Studley
Illinois Licensed Real Estate Broker
Ideal for tenants looking for an open, flexible floor plan, this full floor sublease occupies the 2nd floor and comes fully finished, with abundant natural light from enormous windows lining all four walls. With efficient column-free architecture and 9-foot-high ceilings, this is a bright and welcoming environment for any company looking to control and upgrade their space. The bulk of individual work desks occupy an open space surrounded by windows on three sides, ensuring that every employee has access to a beautiful view and lots of natural light. The chic, colorful decorations and well-appointed pantry seal the deal: this is a vibrant, flexible, and collaborative space ideal for a new or existing company seeking a tech-friendly vibe.
The location couldn’t be better, as 550 West Van Buren is located in the heart of the bustling West Loop neighborhood, less than a block from Union Station and less than four blocks from Ogilvie Transportation Center. The 60, 157 and 125 CTA buses stop in front of the building, and the CTA Blue Line picks up two minutes away at the Clinton station. For those that drive, there’s immediate access to I-290 and I-90/94, plus indoor heated executive parking for 17 cars, a 1700-car self-parking garage across the street, and over 2,000 public parking spaces within two blocks — in this neighborhood, you will never find yourself without a spot.
The West Loop is famous for its incredible food, with both casual and fine dining options just around the corner. Culinary giants Girl and the Goat, Monteverde (my personal favorite), and Momotaro are less than a twenty minute walk away, while casual bites include Naansense, The Ruin Daily and Beggar’s Pizza are just around the block. Those aren’t the only options for grabbing a bite — for the more adventurous foodie, the Korean mega-grocery H Mart is only two blocks down from 550 West Van Buren, while the new Willis Tower Farmers’ Market is a quick ten-minute walk. The building seals the deal with its proximity to the Chicago River and the incomparable Chicago Riverwalk.
Even without its unbeatable location, the building itself would entice most tenants. The 550 W. Van Buren building — otherwise know as Union Tower — boasts a renovated lobby, an in-building conference center, and a competitive tenant lounge. Fooda and Starbucks are also located on-site, and the building is outfitted with 24/7 security and after-hours key card access. Joining many of Chicago’s most prominent office buildings, this building is LEED Gold certified and has achieved yearly ENERGY STAR status. The diverse range of tenants already taking advantage of this tech-ready and well-located space include Huron Consulting Group, Opportunity International, Academy Securities, and CRC.
The space is move-in ready and has a remaining lease term through March 31, 2022. The 21,159 rentable square foot sublease is priced at $29 per RSF. The office’s current 86-seat seat setup includes 34 private offices, 52 workstations, two small conference rooms, three medium conference rooms, and one large conference room, which can easily be configured into a flexible open floor plan, seating 108 at an ample 195 square feet per person.
With its prime location, amenities, and flexible configuration potential, this full floor sublease is an excellent choice for any company looking to make a splash in a vibrant neighborhood and set up its own best working environment while maintaining the ease of a plug-and-play space.
For information, send us an email and grab this opportunity before it’s snapped up as we don’t expect it to stay on the market for long!
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