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CHICAGO-Columbia College Dance and Theater School has signed a long-term lease that will keep its facilities in the South Loop. The school will occupy the entire second floor of the five-story 1122 S. Wabash Ave. building. Occupancy of the 12,600-sf space will take place this fall.

Yvonne Jones, a vice president with Zifkin Realty Group, represented building ownership, MBA Enterprises-3 Inc., in the transaction. Geoff Euston, a senior vice president at US Equities Realty, represented the college. "Building ownership is in the process of making several improvements," Jones tells GlobeSt.com. "A new lobby is being constructed in addition to a new elevator, and the building will have two restaurants." Eleven City Diner, a deli, has already opened on the ground floor, and another well-known Chicago-area restaurant will be announced soon for the retail space next door to the deli, Jones says.

Columbia College is now in the process of converting the former office space on the second floor of the five-story building for its rehearsal and performance studio. "They are totally gutting and rebuilding the existing space," says Jones. "The school received an allowance for the build-out."