Concord Place Breaks Ground With Anchor Tenant Already in Hand

CHICAGO-Earlier this year, the Quaker Oats Co. revealed that it wouldrelocate its world headquarters from 321 N. Clark St. to about 325,000 sf atFifield Realty Corp.’s Concord Place project, a 17-story, 430,000 sf officebuilding at 555 W. Monroe St. The city arranged $9.75 million inTIF funds in order to keep Quaker from relocating to the suburbs, possiblynorth suburban Glenview.

However, some of the details of the lease might change with PepsiCo’splanned acquisition of Quaker. Pepsi acquired Quaker in order to augment itsbeverage line with Gatorade and its Frito-Lay snacks with Quaker’s granolabars and rice cakes. It’s conceivable that Quaker’s non-snack food businesscould be sold off and less space needed at the new headquarters.

Original plans called for Quaker to occupy about 80% of the building with 1,100 employees. The site will also have about 5,500 sf of retail. Amenitiesof the limestone pre-cast building would include a double story lobby,fitness center, executive parking within the building, eight high speedelevators, dedicated freight elevator, advanced security systems andoversized vertical risers to accommodate communication and electrical needs.