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CHICAGO-Shorenstein Realty Services has landed a corporate headquarters tenant, signing Grubb & Ellis to 64,000-sf lease at 500 W. Monroe St. The real estate services company will consolidate corporate, brokerage and management operations now in Northbrook and two other Downtown locations to three floors at the 44-story, 940,000-sf West Loop building.

The real estate services company moved its headquarters from San Francisco to Northbrook in 1997. Grubb & Ellis has a staff of 125 in Northbrook, with another 75 Downtown. The move is designed to put the company closer to corporate clients as well as financial institutions, says chief executive officer Mark E. Rose. The company plans to shift its corporate staff by May, while brokerage and management operations will relocate in 2007.

Although terms were not disclosed, asking net lease rates at 500 W. Monroe St. start at $16 per sf. Vacancy at the 14-year-old building is about 15%, according to Black's Guide.