CHICAGO—Metropolitan Chicago Healthcare Council has decided to stay in 222 S. Riverside Plaza, the 35-story, 1.2-million-square-foot tower that has been its home for several decades. The group just renewed its long-term lease of nearly 30,000-square-feet in the West Loop office tower. The membership and service organization dedicated to improving the delivery of health care services in the Chicago area had looked throughout the submarket but found it difficult to find buildings with large-enough floor plates.
The group was assisted in the search by the Chicago office of Savills Studley. As reported in GlobeSt.com, a lot of tenants in the West Loop have decided to remain in place for now due to a lack of available offices in the immediate area. Developers will complete several major office towers nearby, but not until 2017.
Executive managing director Lisa Davidson and senior managing director Tiffany Winne, both of Savills Studley, represented MCHC in the transaction. Steve Smith and Nikki Kern, both of JLL, represented the landlord. Representatives were not available for comment by presstime, but GlobeSt.com will provide an update later in the week.
“The size of the floor plate MCHC possesses at 222 S. Riverside was a determining factor. It is unique to get that much contiguous space on one floor,” Winne said in a prepared statement.
But although MCHC has decided to stick with its old home, that does not mean it won't make changes. “The company plans to design a new working environment and explore cutting-edge alternative workplace strategies to create a more collaborative and engaging environment for its employees,” Winne added. “The decision to keep this larger floor plan gives MCHC the ideal canvas for this new concept.”
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
