Law firms double down at Chicago’s AMA Plaza amid foreclosure

The property asset involved in the transaction is an office space located at 330 North Wabash Avenue, Chicago, IL, with a total square footage of 250,760. The asset continues to operate as an office tower amid a foreclosure-driven sale process.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Location: 330 North Wabash Avenue, Chicago, IL
• Square Footage: 250,760
• Tenant: Richard Trobman - Latham & Watkins
• Tenant: Jay Koehler - Swanson, Martin & Bell
• Latham & Watkins expanded its footprint by 35,274 square feet to roughly 194,000 square feet
• Swanson, Martin & Bell renewed for 12 years at 56,760 square feet
• Lease term for Latham & Watkins extended by seven years
• Property is 83% leased while undergoing sale

Key individuals in this transaction include Richard Trobman representing Latham & Watkins and Jay Koehler representing Swanson, Martin & Bell. The management of the property is currently being handled by JLL, which is marketing the asset for the court-appointed receiver.