Click a slice of the wheel to learn more on Chicagoland's office market in the first half of 2016

1. A higher
calling
Suburban tenants are trading
up to Class A product seeking
upgraded amenities and locations
with improved access.
Comeback in
the East Loop
Over 600,000 SF of
positive net absorption
this year, the East Loop
continued its run as
2016’s top
performer. Leasing
momentum around Pru-
dential Plaza,
Aon Center, and
Illinois Center is
the strongest in a de-
cade.
Elephant(s)
in the burbs
An abundance of available
large blocks with a series
scheduled to come to
market throughout 2016
could potentially drive
vacancy up in the Suburbs.
Developments raising
the bar Downtown
+4.4M SF is under construction/
renovation in the CBD,
includes two new office tower
developments – 151 N Franklin
and 625 W Adams both
announced this year.
The Suburban
Healthcare Revolution
Healthcare tenants are driving leasing
activity accounting for 40.8% of Suburban
leases over 10,000 SF in the first quarter
– AIM Specialty Health and Advocate
Healthcare to name a few.
Make way for
Kennedy West
The geographic diversity of the
development pipeline west of the
Kennedy Expressway caused for the
creation of two new submarkets,
Far West Loop and Fulton
Market, along with
redefining the River
West submarket.
Another one bites the burbs
Suburban migrations have accounted for over
700,000 SF of leasing activity YTD. Companies
include: McDonalds, Beam Suntory, and Echo
Global Logistics.
Built-for-me
Increasing in popularity, three BTS projects are
underway in the Suburbs for Zurich Insurance, MC
Machinery Systems, and AAP’s new HQ. Two in the
CBD: C.H. Robinson and McDonald’s.
+ $15.24 PSF
rent savings on
Class A Suburban
space vs. the CBD
FIRST HALF
2016
Click to see eight
major trends in the
Chicagoland
office market.
1H 16CHICAGOLAND MARKET UPDATE
Click on a slice to learn more.

2. ii.
iii.
iv.
v.
vi.
vii.
viii.
a higher
calling
777 Big Timber Road, Elgin
2703 Van Buren Street, Bellwood
3800-3850 N Wilke Road, Rolling Meadows
1900 Spring Road, Oak Brook
1205 E Algonquin Road, Schaumburg
6400 Shafer Court, Rosemont
1701 Golf Road, Rolling Meadows
1415 W 22nd Street, Oak Brook
1400 American Lane, Schaumburg
3025 Highland Parkway, Downers Grove
1501 Woodfield Road, Schaumburg
1315 W 22nd Street, Oak Brook
Verizon 160,000 SF
SMACNA 2,000 SF
Paylocity 309,000 SF
Veritas 8,120 SF
MECU 28,000 SF
Command Akon 11,195 SF
i.
a higher calling
Many premier suburban office campuses
have gotten some fresh touches,
including new fitness centers, on-site
cafés, restored outdoor spaces and other
amenities, all designed to satisfy tenant
demand. Those trading up have lately
proved a draw to closer freeway access
and proximity to downtown.
HOME

3. i.
iii.
iv.
v.
vi.
vii.
viii.
another
one bites
the burbs
River West
0.53%
River North
20%
N. Michigan Ave
1%
East Loop
8%
Central Loop
5%
West Loop
65%
Evanston
Uptown
Northbrook
Morton Grove
Highland Park
Deerfield
Bannockburn
Northfield
Ravenswood
Arlington Heights
Elk Grove Village
Libertyville
Schaumburg
Lake Forest
Bensenville
Itasca
O’Hare
Hoffman Estates
GlenviewMount Prospect
Lombard
Oakbrook
Downers Grove
Naperville
Hinsdale
Lisle
Warrenville
Homewood
Mokena
Mettawa
Riverwoods
Rolling Meadows
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2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
3132
33
34
35 36
37
38
39
40
41
42
43
44
45
financial
services
retail
trade
law firm
education
health care
leisure
oil & gas
transportation
& utilities
information
technology
business
services
manufacturing other
annual
migration
leases
in square feet
281,000
1,131,000
27,200
70,000
861,000
853,800
1,329,900
1,211,111
2008 2009 2010 2011 2012 2013 2014 2015
34%
CLASS A
WHERE
DID THEY
GO?
RECEIVED
INCENTIVES
State or city
49% CLASS B
51%
River West
0.53%
26,473 SF
River North
20%
1,009,700 SF
N. Michigan Ave
1%
53,000 SF
East Loop
8%
420,400 SF
Central Loop
5%
258,150 SF
West Loop
65%
3,263,611 SF
Evanston
Uptown
Northbrook
Morton Grove
Highland Park
Deerfield
Bannockburn
Northfield
Ravenswood
Arlington Heights
Elk Grove Village
Libertyville
Schaumburg
Lake Forest
Bensenville
Itasca
O’Hare
Hoffman Estates
GlenviewMount Prospect
Lombard
Oakbrook
Downers Grove
Naperville
Hinsdale
Lisle
Warrenville
Homewood
Mokena
Mettawa
Riverwoods
Rolling Meadows
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2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
3132
33
34
35 36
37
38
39
40
41
42
43
44
45
SUBURBAN MIGRATION April 2016
# Company Address RSF
2008
1 Thomson Reuters 1 N Dearborn 41,000
2 BP 10 & 30 S Wacker 240,000
2009
3 Combined Insurance 111 E Wacker 100,000
4 Silliker 111 E Wacker 33,000
5 PCM Logistics 300 S Riverside 28,000
6 United Airlines 233 S Wacker 830,000
7 Willis Group Holdings 233 S Wacker 140,000
2010
8 Bel Brands 10 & 30 S Wacker 27,200
2011
9 UHC 155 N Wacker 70,000
2012
10 Catamaran 300 N LaSalle 25,000
11 DeVry University 300 S Riverside 75,000
12 Maximus 303 E Wacker 70,000
13 W.W. Grainger 500 W Madison 58,000
14 Motorola Mobility Merchandise Mart 604,000
15 Zones 233 S Wacker 29,000
2013
16 Gogo Wireless 111 N Canal 232,000
17 Walgreens Co. 120 S Riverside 26,000
18 Presence Health 200 S Wacker 44,000
19 Guggenheim Partners 227 W Monroe 38,000
20 Great American Insurance 300 S Wacker 100,000
21 Discover 350 N Orleans 26,000
22 Hillshire Brands 400 S Jefferson 233,000
23 Nokia Xpress 425 W Randolph 32,500
24 Marketing Store Worldwide 55 W Monroe 31,300
25 Legal & General Investment
Management America Inc.
71 S Wacker 26,000
26 Capital One 77 W Wacker 65,000
# Company Address RSF
2014
27 Assurance Agency 111 N Canal 27,000
28 AT&T 225 W Randolph 53,000
29 Newark Corp. 300 S Riverside 80,000
30 FGMK 333 W Wacker 26,200
31 Kraft 401 N Michigan 30,000
32 Fusion92 440 W Ontario 25,700
33 SAC Wireless 540 W Madison 40,000
34 Scor S.E. 233 S Wacker 30,000
2015
35 Horizon Pharma 150 S Wacker 65,111
36 Kraft Heinz 200 E Randolph 170,000
37 Stats 203 N LaSalle 70,000
38 Zurich 300 S Riverside 100,000
39 Mead Johnson 444 W Lake 75,000
40 Motorola Solutions 500 W Monroe 150,000
41 Baxalta 540 W Madison 83,000
42 ConAgra Merchandise Mart 210,000
2016
43 Allstate Merchandise Mart 45,000
44 BP 30 S Wacker 40,000
45 Beam Suntory Merchandise Mart 100,000
All leases less than 25,000 RSF 387,323
TOTAL 5,031,334
River West
0.53%
26,473 SF
River North
20%
1,009,700 SF
N. Michigan Ave
1%
53,000 SF
East Loop
8%
420,400 SF
Central Loop
5%
258,150 SF
West Loop
65%
3,263,611 SF
Evanston
Uptown
Northbrook
Morton Grove
Highland Park
Deerfield
Bannockburn
Northfield
Ravenswood
Arlington Heights
Elk Grove Village
Libertyville
Schaumburg
Lake Forest
Bensenville
Itasca
O’Hare
Hoffman Estates
GlenviewMount Prospect
Lombard
Oakbrook
Downers Grove
Naperville
Hinsdale
Lisle
Warrenville
Homewood
Mokena
Mettawa
Riverwoods
Rolling Meadows
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10
11
12
13
14
15
16
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18
19
20
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24
25
26
27
28
29
30
3132
33
34
35 36
37
38
39
40
41
42
43
44
45
SUBURBAN MIGRATION April 2016
# Company Address RSF
2008
1 Thomson Reuters 1 N Dearborn 41,000
2 BP 10 & 30 S Wacker 240,000
2009
3 Combined Insurance 111 E Wacker 100,000
4 Silliker 111 E Wacker 33,000
5 PCM Logistics 300 S Riverside 28,000
6 United Airlines 233 S Wacker 830,000
7 Willis Group Holdings 233 S Wacker 140,000
2010
8 Bel Brands 10 & 30 S Wacker 27,200
2011
9 UHC 155 N Wacker 70,000
2012
10 Catamaran 300 N LaSalle 25,000
11 DeVry University 300 S Riverside 75,000
12 Maximus 303 E Wacker 70,000
13 W.W. Grainger 500 W Madison 58,000
14 Motorola Mobility Merchandise Mart 604,000
15 Zones 233 S Wacker 29,000
2013
16 Gogo Wireless 111 N Canal 232,000
17 Walgreens Co. 120 S Riverside 26,000
18 Presence Health 200 S Wacker 44,000
19 Guggenheim Partners 227 W Monroe 38,000
20 Great American Insurance 300 S Wacker 100,000
21 Discover 350 N Orleans 26,000
22 Hillshire Brands 400 S Jefferson 233,000
23 Nokia Xpress 425 W Randolph 32,500
24 Marketing Store Worldwide 55 W Monroe 31,300
25 Legal & General Investment
Management America Inc.
71 S Wacker 26,000
26 Capital One 77 W Wacker 65,000
# Company Address RSF
2014
27 Assurance Agency 111 N Canal 27,000
28 AT&T 225 W Randolph 53,000
29 Newark Corp. 300 S Riverside 80,000
30 FGMK 333 W Wacker 26,200
31 Kraft 401 N Michigan 30,000
32 Fusion92 440 W Ontario 25,700
33 SAC Wireless 540 W Madison 40,000
34 Scor S.E. 233 S Wacker 30,000
2015
35 Horizon Pharma 150 S Wacker 65,111
36 Kraft Heinz 200 E Randolph 170,000
37 Stats 203 N LaSalle 70,000
38 Zurich 300 S Riverside 100,000
39 Mead Johnson 444 W Lake 75,000
40 Motorola Solutions 500 W Monroe 150,000
41 Baxalta 540 W Madison 83,000
42 ConAgra Merchandise Mart 210,000
2016
43 Allstate Merchandise Mart 45,000
44 BP 30 S Wacker 40,000
45 Beam Suntory Merchandise Mart 100,000
All leases less than 25,000 RSF 387,323
TOTAL 5,031,334
rent
premium
on office space in the CBD
compared to the suburbs
56.3%
Click the image to view our Suburban Migration research website
ii.
another one bites the burbs
Seeking millennial talent and central
locations, several suburban companies
have relocated downtown catering to the
new generation of urbanites reshaping the
workplace. Suburban migration began with
United Airlines in 2008, and has continued
in waves through 2016.
A slew of corporate relocations drove
demand early this year, most notably
- McDonald’s moving their corporate
headquarters to Fulton Market, an area
some observers consider emerging. With
no slowdown in sight, we expect to see
other companies looking carefully at their
location strategies.
HOME

4. i.
ii.
iv.
v.
vi.
vii.
viii.
built-for-me
iii.
built-for-me
Nearing completion,
Zurich Insurance regional
headquarters coincides with
the construction of a number
of build-to-suit projects that
are infusing new life along the
I-90 corridor in the Northwest
submarket.
CHALLENGE
• Zurich was occupying 880,000 square feet of the space in two separate office towers with small, 20,000-square-foot floors. Zurich was seeking a transformation in both its
branding and workplace
• JLL’s greatest challenge on the project was the coordination of all activities such that delivery of the new headquarters matched the expiration of Zurich’s current lease
CUSTOMIZED SOLUTION
• The property will be a cutting edge Class A+ office campus with a high LEED Core & Shell Certification.
• The building will offer a façade clad in articulated glass and stainless steel, office park amenities, a well appointed landscaped setting and ample covered garage parking
• Sustainability initiatives include green roofs, native/ adaptive plants with water capture, low-flow fixtures, low VOC paints, FSC certified wood, weather-tight building
envelope, and on-site CHP generator
• JLL is providing advisory services on tax & accounting implications, location selection, developer selection, development capital procurement, sustainability program
development and lease negotiation
RESULTS
• Successfully arranged site selection, developer selection, $350 million of capital procurement and construction management
• Zurich began construction of the new campus in 3Q 2014. Lease commencement and rent commencement are estimated to be September 2016 and December 2016,
respectively
CLIENT PROFILE
Industry: Insurance
Geography: Schaumburg, IL
Square Footage: 750,000 SF
Schedule: Estimated 3Q 2016
Year completed: 2016
Budget: $340M
Services Provided: Project Management Core &
Shell, Tenant Interiors and
Sustainability
Zurich American Insurance Company
North American Headquarters build-to-suit
Zurich American Insurance Company planned to build and relocate to a new, North American headquarters. JLL was
tapped for advisory services on tax and accounting implications, location selection, developer selection, development
capital procurement, sustainability program development and lease negotiation.
HOME

5. i.
ii.
iii.
v.
vi.
vii.
viii.
comeback
in the
east loop
iv.
comeback in the east loop
With tenants from the suburbs and the
loop streaming into the East Loop, leasing
momentum around Prudential Plaza, Aon
Center, and the Illinois Center is the strongest
in a decade.
Hitting record lows in vacancy, the submarket
has inspired a resurgence in tenant and
investor demand to the area that’s coming
back. Certainly, there is no more exciting
example than the transformation of Prudential
Plaza.
Property repositioning case study – Prudential Plaza
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
$10.00
$14.00
$18.00
$22.00
$26.00
$30.00
2013 2014 2015 2Q 2016 4Q2016
Average Asking Rent 130 E Randolph Vacancy 180 N Stetson Vacancy
64%
$15 Net
$27 Net
10%
10%
Skydell, Karasick, & Silberberg
(601 W Company JV Berkeley
Properties) recapitalizes the two
buildings with $100.0M equity
infusion, taking over the asset.
Perceived as ‘zombie’ project in
the market - One Pru. has had
persistent high vacancy.
Ownership confirms
two-building complex
renovations to include:
• New lobby & upgraded
plaza area
• Tenant amenity floor
with rooftop deck
• Conference facility
• Private shuttle service
Cision US leases 49,464 SF
@ One Pru. – first big tenant
to lease with new ownership
Ownership starts $85.0M
in renovations – marketing
focuses on the tenant amenity
11th floor @ One Pru, which
includes:
• 12,000 SF fitness center,
• 7,000 SF tenant clubhouse,
• 13,000 SF rooftop deck.
Time Inc. leases 18,822 SF
@ One Pru. - rent is
$21.00/Net SF.
Pandora Media leases 32,500 SF
– doubling its Midwest presence
– rent is $20.00/Net SF
Clark Hill leases
72,000 SF – doubling
its Chicago footprint –
rent it $26.00/Net SF
Ownership refinances
the office complex with
a 10-year, $415.0M
loan from German
American Capital
replacing $410.0M
in CMBS debt on the
properties.
Tenant amenity
& lobby remodel
complete –
building has
captured +700,000 SF
of leasing in the past
24-months.
ZS Associates renewed
19,879 SF at Two Pru – 2017
commencement - rent it
$27.00/Net SF
Move-in’s from Clark
Hill, University of
Chicago, among
others will drive
vacancy at the office
complex to its lowest
level since 2005.
HOME

6. i.
ii.
iii.
iv.
vi.
vii.
viii.
elephant(s)
in the burbs
v.
elephant(s) in the burbs
The Chicago suburbs abound with
large corporate campuses, which
are a relic from another era. Despite
steady tenant demand, these
dinosaur campuses are likely to stay
vacant – unless they’re repositioned.
Senior housing and daycare facilities
will be in higher demand than
office space, and converting some
of the obsolete office product to
alternative uses make financial and
environmental sense.
The total rentable inventory of suburban Chicago office
properties is approximately 96.8 million square feet. At the
current overall vacancy rate of 18.9%, the Chicago suburbs have
18.3 million square feet of empty office space.
However, while all submarkets have varying supply and demand
patterns, vacancy in the Chicago suburbs is significantly
concentrated in a specific subset of properties that are
functionally obsolete; skewing the overall market statistics.
SHOWING THEIR AGE
With this criteria applied, our analysis indicates an
estimated 11.3 million-square-feet of the total suburban
office inventory is vacant and functionally obsolete. Across
the Chicago suburbs, there are hundreds of buildings that
were built during the 1980s and are beyond their useful
life, as indicated in this chart.
Taking out the stock of functionally obsolete properties,
the adjusted vacancy rate for tenant attractable properties
is around 7% placing the Chicago suburbs on par with
places like San Francisco, Portland and Nashville.
While some may question the exact metrics of this
analysis, most will acknowledge the difficulty in attracting
employees in their twenties to buildings that are in their
late thirties. With this in mind, it appears the suburban
vacancy challenge will only improve if a large volume of
obsolete inventory is removed entirely from the market.
This means that it’s time for new ideas.
THINKING OUTSIDE THE BOX:
New Vision for Aging Suburban Office Buildings
Adaptive reuse and repositioning of former office campuses could significantly reduce the suburban vacancy rate.
In Downtown Chicago, office building conversions are standard practice. These conversions have contributed to a decline
in vacancy while achieving the highest and best use of buildings, considering the current market demand.
Even though suburban conversions remain quite rare. JLL has identified alternative uses for a few properties that may have
greater potential than traditional office use. (next page)
18.3M SF
That’s the equivalent of the entire office
market inventory of Charlotte, NC.
Of vacant office space in the
Chicago suburbs
NEW IDEAS FOR OLD BUILDINGS:
600
1950-1959
1960-1969
1970-1979
1980-1989
1990-1999
2000-2009
2010-Present
50M
45M
40M
35M
30M
500
25M
400
20M
300
15M
200
10M
100
5M
0 0
BuildingCount
TotalSquareFeet
Count Total SF
Suburban Chicago Office Buildings Built by Decade
In order to better understand the “true” vacancy in the suburbs, JLL identified the properties that are no longer in
consideration for most tenants. For the purposes of this analysis, we defined properties with the following characteristics as
functionally obsolete:
1. Constructed prior to 1990, or without any significant improvements since 1990, and
2. Vacant and available for three years or longer
90, 98 AND 100 HALF DAY RD, LINCOLNSHIRE
343,000 square feet, 95% vacant
1960 LUCENT LANE, NAPERVILLE
516,000 square feet, 50% vacant
1203 WARRENVILLE ROAD, LISLE
124,000 square feet, 100% vacant
2000 LAKEWOOD, HOFFMAN ESTATES
1,600,000 square feet, 100% vacant
With an incredible, 43-acre parcel of land, this site has potential well beyond
office use. Even with a full-scale development, there is sufficient space for a
developer to set aside much of the heavily-wooded land for a nature preserve
with wetlands, trails, and walking paths.
While the office vacancy rate in North Lake county is over 22%, the demand
for affordable residential options is increasing. This implies that market
rate units with the right mix of amenities will maximize the potential of this
site before a corporate occupier can be found. Furthermore, the Village of
Lincolnshire has expressed a willingness to cooperate with a creative owner
on the redevelopment of the property.
DuPage County is forecast to have a population of over 153,000 seniors by
2020, and this aging cohort will require a range of additional assisted living
facilities that do not exist today. Rather than constructing new facilities on
undeveloped land, why not convert an existing office campus into this use?
Suburban office campuses like the former Alcatel-Lucent building already
contain many key senior housing amenities nearby, including: cafeterias, fitness
centers, parking lots, and accessibility. At a fraction of ground-up development
costs, the building could be converted to senior housing and independent living
spaces. This would simultaneously benefit the community and the office market.
Suburban office buildings will need to accommodate occupiers in new ways
as millennials begin to have children and demand that their workplace adapts.
Today, gyms and cafeterias are key tenant amenities, yet five years from now,
the desired amenities may be in-office daycare or employer provided pre-
schools.
Owners with more than 30% vacancy in a given property might be wise to
consider the conversion of a floor or several floors into a childcare amenity.
While serving as a key amenity for suburban tenants, daycare within office
buildings could reduce absenteeism, employee attrition, and even greenhouse
gas emissions.
Located near the transition point between suburban zoning and farm land,
this campus is perfectly positioned to be used for the emerging global trend
of indoor agriculture and farming.
In one proposal, the massive 1,300,000 square-foot office building could be
converted into a multi-level urban farm using varying hydroponic systems to
grow fruits, vegetables, and garden plants. Local residents could lease space
out for their own gardens, and large corporations could use the facility as a
test lab for indoor growing and crop testing in a year-round environment.
In the 287,000 square foot building, 50% of the space could be maintained
as office space for lab employees. The remaining portion could be converted
into an agricultural research and development laboratory. With proximity to
some of the world’s largest food service companies and farming experts, the
vacant space could be put to immediate use.
The existing auditorium on the campus could be kept in place for use by
speakers and conferences on agricultural research and the future of food. A
partnership with the University of Illinois College of Agriculture could turn
this empty office campus into an internationally recognized center for solving
the world’s hunger challenge.
These conversion options are just a sample of the significant potential that exists across the Chicago suburbs. With creative thinking and
careful execution, the suburbs can be positioned to attract new talent and new occupiers to the region. Do you have additional ideas for
solving the suburban vacancy challenge? Please send them to:
Christian.Beaudoin@am.jll.com or Hailey.Harrington@am.jll.com
©2016 Jones Lang LaSalle IP, Inc. All rights reserved. 59002
Former use: Single-tenant headquarters
Proposed use: Mixed-use with residential, retail, and educational components
Former use: Single-tenant headquarters
Proposed use: Assisted living facility and senior care housing
Former use: Traditional office, flex space
Proposed use: Maintain 50% office, and convert 50% to daycare facility
Former use: Single-tenant headquarters
Proposed use: Build an urban farming hub
HOME

7. i.
ii.
iii.
iv.
v.
vii.
viii.
developments
raising the
bar downtown
Click the image to view our Chicago 2025 research website
vi.
developments
raising the bar downtown
The West Loop, studded with high-rise office towers
and construction cranes along the riverfront, will soon
have two more towers in this development cycle:
John Buck’s 151 N Franklin Street anchored by CNA
and White Oak JV CA Venture’s spec tower, 625
W Adams scheduled to both deliver by mid-2018.
Adding to the appeal of downtown is nearby The
Old Post Office, an ambitious 2.5-million-square-foot
development project filled with office space, shops
and restaurants, and rooftop public space.
To keep new supply and demand in balance, the
Chicago market will have to maintain near record
absorption levels over the next two years to match
the current construction pipeline.
CHICAGO 2025 11
Development Timeline
Chicago is a city of big plans and big projects. Over the next ten years, the
city will grow upward with new developments. But mostly, Chicago will grow
outward into new submarkets, as companies continue to seek larger floor
plates, access to talent and flexibility in design.
no small plans
fulton market
river west
goose island
clybourn
corridor
2016 2025
HOME

8. i.
ii.
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iv.
v.
vi.
viii.
the suburban
healthcare
revolution
vii.
the suburban
healthcare revolution
The Chicago suburbs have long been
home to some of the world’s largest
healthcare and pharmaceutical firms.
The region provides incredible access to
an experienced talent base, a connected
hospital network, and the nation’s top
universities.
In 2016, healthcare-related tenants
have driven leasing activity in many
submarkets, representing 41% of the
leases over 10,000 square feet. As
the industry consolidates, we expect
continued activity, especially in the North
and Northwest submarkets.
HOME

9. i.
ii.
iii.
iv.
v.
vi.
vii.
make
way for
kennedy west
viii.
make way for kennedy west
Kennedy West used to be known for
its seedy industrial and wholesale food
markets; now, the area is home to tech
giant, Google and a recent construction
burst of boutique hotels like the Ace
and Hoxton Hotel. Comprised of three
submarkets – Far West Loop, River
West, & Fulton Market - Kennedy West
is remaking itself into one of Chicago’s
premier destination.
Office Retail HotelResidential Redevelopment
KEY
Randolph West
• Former Harpo Studios site, 550,000 SF.
redevelopment planned by Sterling Bay.
• Built-to-suit opportunity, with full build out of 3-4
years. Proposed plan includes 488,000 SF. creative
office, 63,000 SF. retail space, and 200-stall
enclosed parking.
450 N Morgan
• Five-story, 50,000 SF. commercial building
development planned by MAB Dev.
• Mixed-use building includes 24,000 SF. office
space, 6,500 SF. ground floor retail, and 50 car
indoor parking. Expected delivery in 4Q 2016.
Fulton West
• .5-acre site with +/-1 m.s.f. of new development
capacity planned by Sterling Bay.
• First phase of construction expected to deliver in
April 2017. The first phase focuses on 296,000 SF.
of modern office and retail space in a nine-story
newly constructed building. Second phase in the
adjacent parcel will add +/-600,000 SF. of office
and retail space.
Ace Hotel
• 159 rooms,
• 167,000 SF. building capacity
• 2018 completion
215 N Peoria
• Shapack purchased development parcel mid-block
on between Lake and Fulton totaling 13,000 SF. of
land with +/-120,000 buildable SF. in 2013.
• Planned 11-story plus penthouse office building
with ground retail & indoor parking.
Hoxton Hotel
• 175 rooms, 11-story hotel
• 2018 completion
NobuHotel
• 93 rooms, seven-story plus penthouse
• Construction begins late 2016
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10. i.
ii.
iii.
iv.
v.
vi.
vii.
viii.
Thank you.
for more information on this presentation please contact:
Hailey Harrington
Senior Research Analyst
312-228-3189
hailey.harrington@am.jll.com
Shaina Nielson
Senior Graphic Designer
312-228-2141
shaina.nielson@am.jll.com
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