Joseph Freed & Associates will move into about 50,000 sf of the building when the renovation project is completed, says Paul Fitzpatrick, senior vice president of development with Freed. The move is a slight expansion but mainly a consolidation of their headquarters and some of their satellite offices with approximately 125 of Freed & Associates employees to be based from the site, Fitzpatrick says. The move "is really just the evolution of the company and focusing on the large mixed use projects that we are doing. It made sense for us to be centrally located here in the city in one of our projects," he says. The move is expected in the second quarter of 2008.

Last year, the School of the Art Institute of Chicago moved into 53,801 sf of space, as reported by GlobeSt.com. The school recently signed a lease for an additional 25,000 sf of space on the seventh floor, Fitzpatrick says. The state of Illinois is the other main tenant in the building and there are currently a "variety of smaller tenants" on the upper floors, Shulman says. The asking lease rate for the office space is $24.50 per sf gross, Shulman tells GlobeSt.com. About half of the office space is currently spoken for with the retail space still currently all available. There is expected to be restaurants and entertainment on the Wabash and Monroe sides, with specialty flagship stores on the State Street side, says Tom Walsh, senior vice president of leasing with Freed. The asking lease rate for the retail space is between $65 per sf and $125 per sf net, Walsh says.