Wolverine Sticks With 175 W. Jackson

CHICAGO—The financial services company Wolverine Trading LLC has just extended its lease agreement at 175 W. Jackson Blvd., totaling 87,978-square-feet, and the deal could illustrate a more concentrated effort by many CBD landlords to build up their properties’ values.

“In the last 18 months, we’ve seen one of the most active sales cycles ever,” Robert Sevim, executive managing director of Savills Studley, tells GlobeSt.com. He co-brokered the transaction with David Stein of Steinco Inc., both representing Wolverine. Sean Murphy of JMIC Corp. represented the landlord. “And because it’s such a frothy market, we’re seeing a lot of focus from building owners on adding value.” And being accommodating to solid tenants, and making sure to lock them into long-term extensions, is certainly part of the strategy, even if, as appears to be the case at 175 W. Jackson, owners are not currently looking to sell.