CHICAGO—JLL officials say they have decided to extend their long-standing commitment to Chicago, and have begun finalizing negotiations on a new long-term lease agreement that will keep its global headquarters in the iconic Aon Center office tower on the city's lakefront.
JLL has signed a letter of intent with Piedmont Office Realty Trust to extend its current 165,000-square-foot lease once its existing lease expires in 2017. The landlord has agreed to give JLL the flexibility to expand its space as needed over the term of the lease to accommodate any growth.
In addition, JLL and Piedmont will begin work later this year on a complete overhaul of JLL's space into a more open, flexible and collaborative design well-integrated with technology. The first group of employees should move into the new space by mid-2015 with all remaining groups in place by mid-2016. Piedmont has also committed to a capital improvement program that will include renovations to the building's lobbies, common areas, retail arcade and fitness center.
“Of all of the options that we considered, Aon Center is best suited for our employees and the way they work and gives us the best opportunity to implement the newest, best-in-class workplace designs,” says JLL Americas chief executive officer Greg O'Brien. “Moreover, the East Loop is easily accessible and provides the kinds of world-class amenities our employees told us they value. We are confident that staying in Chicago, in the East Loop, and, specifically, at Aon Center will best enable JLL's next generation of growth.”
JLL managing directors Jeff Liljeberg, Rob Schmidt and Michael Sessa are representing the firm in its final lease negotiations. JLL managing director Steve Smith and vice president Mark Georgas are representing Piedmont.
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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.
