CHICAGO—The Chicago office market has undergone significant changes in the past few years, and it looks like the owner of the the Chicago Board of Trade Building was able to keep pace with those changes. As a result of a recently-completed renovation, GlenStar Properties LLC closed out the year with 227,596 square feet of new leases and renewals signed.
Once known primarily as an office tower dedicated to firms that worked on the city's trading exchanges, the CBOT building now hosts tenants such as Amli Residential, customs brokerage and compliance firm Livingston International, and other software, engineering, public relations and data center firms.
GlenStar bought the CBOT building in 2012 and made a lot of upgrades, including a new 10,000 square foot, 24/7 fitness center, a 24/7 video conference center, a refurbished lobby, a refreshed 12th floor atrium, a soon to debut roof-top deck, and new restaurants and shops, including Mezza Grill and TR Napa Valley, a wine shop and tasting room.
"This magnificent property has really come to life over the past several years," says GlenStar managing director Christian Domin, who oversees leasing at the building. "Today we have a wonderful mix of traditional businesses working alongside new economy, technology driven companies – all of whom come to our building to take advantage of state-of the art connectivity paired with a fully renovated, amenity rich office environment."
The recent and final closure of the futures trading pits at the Chicago Mercantile Exchange in favor of computers was a good example of how high tech is becoming more important in the market. One of the other things GlenStar did at the CBOT building was upgrade its technology infrastructure by nstalling up-to-date fiber optic technology, including a new "meet-me-room" and a fiber backbone riser system. Recently, the building was one of the few in Chicago to receive a platinum Wired Certification, the international standard developed by New York-based WiredScore that distinguishes best-in-class Internet connectivity in office buildings.
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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.
