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Restaurant Group Takes 42,500 SF in West Loop

CHICAGO-Not-for-profit National Restaurant Association Educational Foundation takes space on the 15th floor of the renovated 175 W. Jackson Blvd., one of several recent West Loop deals involving Cushman & Wakefield brokers.

By Mark Ruda | Updated on October 04, 2001

CHICAGO-The not-for-profit National Restaurant Association Educational Foundation has taken 42,502 sf at 175 W. Jackson Blvd., moving from 250 S. Wacker Dr., where it had 29,062 sf. The foundation will take space on the 15th floor of the 1.4-million-sf, 23-story building that underwent an $80-million interior and exterior makeover, transforming it from a class C property to class A.

Lou Hall, Howard Perino and Peggy McTigue of Cushman & Wakefield represented the National Restaurant Association Educational Foundation in negotiations on the 15-year lease. Menahem Dietcher of New York-based Intel Corp. represented Louisville, KY-based 175 Jackson LLC.

While financial terms were not announced, the deal would be worth between $11.5 and $19 million based on average Central Business District net lease rates of $18 per sf to $30 per sf, according to U.S. Equities Realty’s second-quarter recent market report.

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