Inland Steel Building, 30 W. Monroe St., Chicago, IL
CHICAGO, IL—Newly rebranded Savills completed a 13,424-square-foot lease on behalf of medical technology company, Intelligent Medical Objects, in the historic Inland Steel Building at 30 W. Monroe St., Chicago, IL. This move marks a new downtown presence for the company.
As previously reported by GlobeSt.com, IMO recently leased space to move its corporate headquarters to O'Hare Gateway Office Center, a 350,000-square-foot class A office complex in Rosemont.
With both leases complete, the company has increased its overall footprint by almost 100 percent.
IMO, which provides terminology solutions for healthcare enterprises, will move from its current WeWork space at 100 S. State St. in Chicago to the new location this summer. The lease, which encompasses the entire 18th floor, is unique for a tenant of this size. There are flexibility provisions in place for future growth to expand to the above and below floors. The office will initially house approximately 75 employees.
This is the first permanent downtown office space for IMO. The Inland Steel Building was selected because of its wide-open, unobstructed layout, deep floor areas, proximity to the Chicago Transit Authority's blue line and access to IMO's Rosemont headquarters. The location provides greater reach in conducting business and supports the company's continued emphasis on attracting and retaining the best talent and offering an exceptional working environment
“We are excited to expand into a permanent downtown location at the Inland Steel Building,” says Dan Watanapongse, IMO president and CFO. “The accessibility to our headquarters in Rosemont as well as the highly-desired loop location is exactly what we were looking for to solidify our roots in the Chicago market.”
Jon Azulay and Robert Sevim of Savills advised IMO in the transaction, along with Adam Southard. Rich Dale and Loredana Perri, members of the firm's project management services practice, are overseeing office build-out and relocation.
“The central business district has long-served as an epicenter for companies looking to expand their businesses in a highly attractive area,” says Azulay. “The historic significance of this particular building combined with easy accessibility from the suburban headquarters make this the ideal location for IMO's Chicago expansion.”
“Tenants with dual locations in the suburbs and downtown has been a major trend,” says Sevim. “We should expect to see more expansions and relocations from companies to attract the best incoming talent and in close proximity to a diverse range of businesses.”
Mark Buth and Kelsey Morgan of MBRE represented the owner, Capital Properties.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
