Lillibridge has 53 employees in its corporate office and outgrew its space on LaSalle Street, says David Lichterman, senior vice president of operations. "We started a program management business a couple of years ago, we have started several engagements that we have secured and we have acquired more buildings," he GlobeSt.com. The space at 200 W. Madison St. was chosen because "it met our space requirements," he says.
The firm recently moved into the new office after having more offices and conference rooms constructed in the space, Lichterman said. Baumann Studios LLC, of Chicago, was the interior design firm for the project.
The length of the lease is 10 years, he says. Lichterman would not disclose the lease rate or the aggregate value of the lease. Asking rent for class A office buildings in the West Loop submarket is about $33.91 per sf, according to a Grubb & Ellis fourth quarter market report.
Lillibridge was represented in the transaction by Tom Murphy and Dan Obiala with JSQ Realty Inc. in Burr Ridge, Lichterman says. Legal representation was provided by Paul Mayer and Lisa O'Keefe of the Chicago law firm Mayer, Brown, Rowe and Maw.
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