WeWork Leases 25K at One11 West

CHICAGO—WeWork, an operator of collaborative workspaces, has just leased 25,281-square-feet in the Alter Group’s One11 West Illinois St., a 10-story, class A building in the River North neighborhood. Tenants now occupy 97% of the 227,604-square-foot building. The new lease continues a good run for Alter’s properties in the submarket. As reported in GlobeSt.com, the company recently signed two tech firms to 24,350-square-feet in 20 W. Kinzie St., a 17-story building nearby. These also brought this building up to 97% occupied, although Google will soon vacate a sizable block of space there.

“WeWork is a perfect complement to One11 West Illinois Street’s image because they are known for their sumptuous collaborative spaces that straddle professionalism and high style,” says Alter. “Because the building is located in the city’s tightest office market and most-prized entertainment district, our marketing strategy specifically targeted leading entrepreneurial companies seeking to attract highly skilled millennials.”