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Schiff Hardin Renews Sears Tower Deal for 15 Years

CHICAGO-The law firm has nearly 200,000 sf on the 71st through 75th floors and has been a tenant at the tallest building in the Western Hemisphere since it opened in 1974. The deal is the first lease signed by new ownership, 233 S. Wacker LLC.

By Mark Ruda | Updated on January 05, 2005

CHICAGO-Schiff Hardin LLP has been a major tenant at Sears Tower since it opened in 1974, but was considering a move. However, the law firm has signed a 15-year renewal for nearly 200,000 sf on the 71st through 75th floors at the tallest building in the Western Hemisphere.

The deal is the first lease signed by 233 S. Wacker LLC, which bought the building last year for $840 million after Trizec Properties Inc. took a pass on the 3.5-million-sf asset. Although financial details were not disclosed, a CB Richard Ellis team is marketing vacant space at the 110-story tower at net lease rates beginning at $14 per sf. Occupancy remains steady at 89%.

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