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West Loop Buildings Land Renewals

CHICAGO-Metropolitan Chicago Healthcare Council renews early at John Buck Co.'s 222 S. Riverside Plaza while Constellation NewEnergy goes shopping before staying at Trizec Properties, Inc.'s 550 W. Washington St.

By Mark Ruda | Updated on March 07, 2005

CHICAGO-Two tenants have opted to stay put in the West Loop, with at least one of them capitalizing on soft leasing conditions in the submarket. Metropolitan Chicago Healthcare Council signed an early renewal for its 35,000 sf at 222 S. Riverside Plaza while Constellation NewEnergy renewed its 18,675-sf deal at 550 W. Washington St.

Although it is one of the stronger submarkets as well as the largest, the West Loop began the year with a 15.1% vacancy rate when sublease space is included, according to Delta Associates. Although terms were not disclosed, John Buck Co. asks $16 per sf and up for space at the 1.1-million-sf building next to Union Station, where vacancy is less than 4%.

Metropolitan Chicago Healthcare Council operates its Illinois Poison Control Center out of its leased space. Although terms were not disclosed, Staubach Co. managing principal Mike Sessa and senior vice president Bob Peterson represented Metropolitan Chicago Healthcare Council, which is made up of 140 hospitals and healthcare organizations. The John Buck Co.’s Bill Rolander handled negotiations for his company.

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