News

08.27.19
Law firm row: 110 North Wacker inks lease with yet another legal firm

As seen The Real Deal

Yet another law firm is decamping for the under-construction 110 North Wacker Drive, helping the office tower from Riverside Investment and Development and Howard Hughes Corporation reach a leasing landmark.

Law firm Jones Day will lease four floors at 110 North Wacker, putting the tower at 1 million feet leased and 67 percent leased over a year from its planned opening, according to Howard Hughes Corporation. The 1.5-million-square-foot tower is set to be delivered in late 2020.

Jones Day is at least the third law firm to sign a lease at the 55-story 110 North Wacker. Law firm Perkins Coie plans to take 100,000 square feet, and Lewis & Bockius will lease 86,000 square feet in the tower at the corner of Washington and Wacker.

A representative for Howard Hughes declined to say how many square feet Jones Day will lease. The law firm currently leases space at 77 West Wacker Drive.

Riverside and Howard Hughes’ tower will be anchored by Bank of America, which signed a 530,000-square-foot lease in 2017. Since then, the building has continued to rack up new tenants, including financial firm Lincoln International and upscale co-working company No 18, which will take two of three penthouse floors.

The tower’s success has come at the expense of the Central Loop, which has seen its financial institution anchor tenants decamp for newer buildings in the West Loop and River North.

For the remainder of its available space, 110 North Wacker will be competing with other big-time office projects, including 601W Companies’ Old Main Post Office. 601W said in June that the Post Office redevelopment project should be 75 percent leased by the end of the year.

Once it is completed, 110 North Wacker will be the tallest office tower built in Chicago in 30 years, according to Howard Hughes.

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