Amalgamated Bank Of Chicago Signs 12-Year Lease At 101 North Wacker Drive In Chicago

The property asset involved in this transaction is located at 101 North Wacker Drive in Chicago. The asset type is classified as an office space, with a total square footage of approximately 40,000. The building is currently 81% leased and is a 23-story structure. Amalgamated Bank of Chicago (ABOC) is relocating from its previous location at 30 N. LaSalle St., a site slated for residential conversion.

Summary of transaction details:

• Property Type: Office
• Lease Term: 12 years
• Landlord: Mark Gabbay - LaSalle Investment Management
• Tenant: Nick Weaver - Amalgamated Bank of Chicago (ABOC)
• Brokers: Jeff Dowdell & Lauren Sharpe - Telos Group

This deal marks the continued trend of tenants moving from older office spaces as the LaSalle Street area undergoes transformation. The new branch and executive offices for Amalgamated Bank of Chicago (ABOC) are set to open this fall, highlighting a shift in leasing dynamics within the Chicago market.