CHICAGO—The shift to electronic trading made the physical trading floor of the Chicago Stock Exchange unnecessary, and several years ago, the CSE gave up about 62,000-square-feet of the space it occupied for decades at One Financial Place, 440 S. LaSalle. That left the exchange with about 50,000-square-feet in the 40-story, 1-million-square-foot tower that anchors the southern end of the city's financial district. And now the exchange has decided to give up about one-third of that space as it shifts to a more collaborative office layout.
It has just signed a long-term renewal of about 33,000-square-feet at 440 S. LaSalle. The exchange has operated on the seventh and eighth floor, but will now consolidate operations onto one floor.
Lisa Davidson, executive managing director and Rick Schuham, executive vice president and co-branch manager of the commercial real estate services firm Studley, negotiated the company's lease. Mark Gunderson and Mark Baby of J.F. McKinney represented the landlord. They were not available for comment by press time.
“After negotiating with several properties and thoroughly investigating the market, staying in the building made the most sense,” said Davidson in a statement. “It enabled the organization to limit disruption for its workforce and was the most cost-effective option.” Furthermore, the building is also undergoing major renovations with new amenities.
John Kerin, the chief executive officer of the CSE, said, “we are looking forward to reducing our footprint and creating a more efficient and collaborative work environment. The renovations will bring additional sunlight into the space and the consolidation will allow us to have all of our employees on one floor.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
