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Seyfarth Shaw Signs Record 294,175-SF Deal at BOCC

CHICAGO-The 15.5-year deal with the law firm pushes leasing at the 1.5-million-sf office tower at 131 S. Dearborn St. to 92%. Based on published asking lease rates, the deal could be worth $100 million.

By Mark Ruda | Updated on April 28, 2005

CHICAGO-Long stuck south of the 75% mark, leasing at Bank One Corporate Center has soared to 92% with Seyfarth Shaw LLP signing a 294,175-sf lease, believed to be the largest office deal in the market this year. Now located at 55 E. Monroe St., the law firm begins its 15.5-year lease at the 1.5-million-sf office tower Jan. 1, 2007.

Although financial terms were not disclosed, Prime Group Realty Trust, which owns the building with Orlando-based Estein & Associates USA, Ltd., is marketing space at 131 S. Dearborn St. at rates beginning at $22 per sf. That would put the value of the deal at $100 million of its life.

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