Search
 

Virchow, Krause Signs for 47,000 SF at Plaza

CHICAGO-The public accounting firm Virchow, Krause & Co. is switching buildings in the two-tower plaza, which is 81% leased.

By Gina Kenny | Updated on February 14, 2008

CHICAGO-Virchow, Krause & Co., a certified public accounting firm headquartered in Madison, WI, has signed a lease for approximately 47,000 sf at 205 N. Michigan Ave., part of the two-tower Michigan Plaza. The term of the lease is 11 years, sources say.

The firm will occupy approximately 44,000 sf on the 27th and 28th floors and will also occupy approximately 2,800 sf on the upper concourse, says Mark Buth, SVP and managing director of leasing services with MB Real Estate. “The lobby space will be used mainly for meeting rooms,” Buth says. “By taking the lobby space, it affords them much greater identity than they would otherwise achieve.” Since 1999, the firm and a predecessor had been subleasing 36,728 sf on the 11th floor from Midas in 225 N. Michigan Ave., part of Michigan Plaza.

Buth and Kathleen Bertrand, with MB Real Estate, represented the building ownership in the lease transaction. Joseph Lerner, with Studley, represented the tenant.The company is expanding the amount of space they are leasing because “their business has grown organically and they have acquired other firms in the area as well,” Buth says. The firm chose the new location to keep the convenient location and views in addition to the floor plates of 22,000 sf at 205 N. Michigan Ave., he says. Amenities to the building include a concierge, 500 parking spaces, a bus that travels to and from the West Loop train stations and retailers such as a bank, Starbucks and other food options. Virchow Krause expects to move into the new space June 1, Buth says. The asking lease rate for Michigan Plaza is between $28 per sf and $32 per sf, gross.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.