Urban Innovations Leases Up West Loop Bldg.

CHICAGO—Last year, when Chicago-based Urban Innovations, a company with a lot of property in the River North neighborhood, repurchased, at a significantly lower price, several office buildings in the West Loop’s Greektown neighborhood that the firm had sold to another investor in 2005, the property had a 30% vacancy rate. But the company just signed a new 17,000-square-foot lease at 322 S. Green St., one of the buildings, to Elevate Energy, a non-profit organization, formerly known as CNT Energy, which assists users in accessing more efficient energy sources.

Aaron Zaretsky handles leasing for the now fully-leased 322 S. Green St., and has increased its occupancy by 42%. Elevate Energy was represented by William Donahue of Lichter Realty, Inc. The property was recently renovated and includes newly expanded restrooms, corridor and lobby upgrades, a bicycle storage room, fully built-out office suites and fiber connectivity from multiple service providers.