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YMCA Expands Into 70,000 SF at 101 N. Wacker

CHICAGO-The YMCA's national office has signed a new lease for space on the 15th through 17th floors of the 600,000-square-foot office building.

By Cari Brokamp | Updated on September 30, 2009

CHICAGO-The YMCA of the USA has signed a lease for 70,000 square feet at 101 N. Wacker Dr. for its national office. The deal marks an expansion for the YMCA, which was previously located in 61,000 square feet in the building, which has housed its national office since 1981. Owned by Hines, the 600,000-square-foot property is currently about 77% occupied.

“They’ve been here for quite some time and have decided to make a long-term recommitment to the building,” Michael Kaiser, Group Property Manager–Chicago of Hines, tells GlobeSt.com. “They went through a search of probably 60 potential locations and were trying to decide between Chicago and even other cities. They decided to stay in Chicago and recommitted to the building because of some of the exciting things we’re doing in the building.”

The building is currently undergoing a $12.5 million capital improvement project, which will install new restrooms, lobbies, corridors, elevators and floor-to-ceiling glass, Kaiser says. The lobby and first phase of restrooms are already completed, while the other projects are expected to finish next year. Hines purchased the 575,000-square-foot steel frame office tower from Tishman Speyer in late 2007 for about $131 million, sources say. Designed by Perkins and Will, the 24-story property was completed in 1980 and last renovated in 1990. Asking lease rates at the office building range from $18 to $20 per square foot net.

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