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West Loop Hitting the Next Phase of its Redevelopment

CHICAGO—Fifield Cos. has just finished the rehab of a historic Daniel Burnham building at 600 W. Jackson, but from now on, developers will probably concentrate on new construction to satisfy office demand.

By Brian J. Rogal | brianjrogal | | Updated on August 03, 2016

 

chi-600WJackson (3) Fifield Cos. recently renovated Burnham 600, a Daniel Burnham-designed, 106,000-square-foot loft office building at 600 W. Jackson Boulevard in Chicago.
CHICAGO— Fifield Cos. has just completed its year-long renovation of Burnham 600, an eight-story, 106,000-square-foot loft office building located at 600 W. Jackson Blvd. in Chicago’s West Loop. The building, designed by famed Chicago architect Daniel Burnham in 1912, was one of the last historic structures in this hot office submarket to undergo a renovation. And like many of the surrounding structures, it is nearly 100% leased by a set of up-and-coming firms, and now local developers are more likely to think seriously about breaking ground on new projects. “We’re at the tail end of this trend,” Steve Fifield , chairman and chief executive officer of Fifield Cos., tells GlobeSt.com, but since demand for office space remains robust, “it is not surprising that we’re seeing new construction.” Even the renovation of the giant cold storage building at 1000 W. Fulton into 1KFulton, Google’s new home, was not enough to quench the tech company’s thirst for space, and developer Sterling Bay also attached an office tower to the project.         “People are very bullish on this area,” says Randy Fifield , chairwoman of Fifield Cos. She points to Richard Blum’s White Oak Realty Partners , which along with CA Ventures , has just started developing 625 W. Adams, a 432,000-square-foot office tower about one block from Fifield’s building. “He got financing without a lead tenant,” a strong sign that lenders are very confident in the neighborhood’s future. The teardown of nearby Harpo Studios and the decision of McDonald’s to occupy a new complex on that site further bolsters the West Loop’s status as a mature destination.   “The West Loop is not as corporate as downtown,” she adds. “It’s more accessible for most people. Tenants can walk to the train stations, and the many restaurants and shopping areas.” Furthermore, new apartments, many built by Fifield, are still opening up in the West Loop. “People can truly live, work and play in the neighborhood.”   And Burnham 600 seems to fit right into the neighborhood’s new vibe. One of the tenants brought in by Fifield Cos. after purchasing the property in 2015 was Assemble , a tech shared-office operator. “It’s like a think tank and incubator for a lot of young people,” says Fifield. The company extensively renovated the building’s lobby, hallways and elevators, added new signage and a staffed daytime security desk. Other tenants include: Bravo Foods , Evan Law Group , Family Health Network , Gibraltar Capital Advisors , Mark IV Realty , OKW Architects , Reed Construction , Seneca Real Estate Advisors and Starwood Hotels . But perhaps the most important tenant is Fifield Cos., which occupied 6,500 square feet on the sixth floor. Featuring a combination of open, private and flex office space, the firm’s headquarters boasts executive offices with glass fronts lining its perimeter while creative breakout areas are in the center.  
chi-FifieldHQFamilyRoom (2) Renovations at Fifield Cos.’ Daniel Burnham-designed corporate headquarters include a full kitchen and “family room,” where employees gather for meetings, lunch and learns and guest speakers.
“When we were looking for a new headquarters near the Loop, at the top of our list was a classic Chicago loft building with a rich history,” says Steve Fifield. “As one of the city’s first skyscrapers, and with its Daniel Burnham pedigree, Burnham 600 represented everything we love about Chicago architecture.” “It also helps our brand,” says Randy Fifield. Although the company has completed projects in many neighborhoods and other cities, it is heavily identified with the revival of the West Loop. “People are very aware of and respect the choice we made.” The kitchen has even been designed with the same luxury countertop, cabinet and backsplash finishes that Fifield offers in its newest class A apartment towers. “ Everyday people visit us and say how comfortable and inviting the space is.”

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