CHICAGO-Levenfeld Pearlstein has renewed 53,175 square feet at Two North LaSalle St. here. The 26-story Central Loop tower is owned by Norfolk, VA-based Harbor Group International.
The law firm is extending the lease on its space at the building until 2023. “Two N. LaSalle offers us close proximity to our many clients located in the CBD and the courts,” said Marc Joseph, a partner at the firm, in a statement.
The tower at the corner of LaSalle and Madison is anchored by the law firm Neal, Gerber & Eisenberg LLP. Lease rates at the building are in the upper teens to $20 per square foot. Tamara Kos and Teddy Walsh with Transwestern represented the landlord in the lease, while Todd Mintz and Kyle Harding with UGL Services Equis represented the tenant.
Brokers for both landlords and users agree that more deals are being done downtown this year, with many companies looking to lock in rates while it’s still a tenant’s market, especially for deals larger than 50,000 square feet. First quarter vacancies are down to less than 15% in the CBD, it’s reported, and the amount of big block space is drying up.
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