Insurance Firm Leases 99,000 SF in East Loop

CHICAGO-Combined Insurance inked an 11-year, 99,204-square-foot lease. The deal will give the provider of accident, life and health insurance products space in the East Loop at 111 East Wacker Dr. The lease rate of the deal was not released, although the asking rate is between $14 to $15 per square foot net.

“The economic proposition put together by the State of Illinois and our real estate partners at Jones Lang LaSalle along with the building’s amenities and proximity to public transportation options were the deciding factors in choosing this location. We conducted an exhaustive search of downtown and suburban properties and were impressed with all that 111 East Wacker could offer our employees,” says Carlos Sierra, COO of Combined Insurance.

As part of the deal, Federal Home Loan Bank canceled its lease in the building to give Combined Insurance a full three floors. Jack McKinney Jr. of J.F. McKinney & Associates, who represented landlord Parkway Properties, tells GlobeSt.com the company plans on renovating and improving the space before moving in this July.