Bank of America reportedly committed to take 500,000 square feet at a planned 51-story office tower along the Chicago River, which would allow construction to start. The 1.35-million-square-foot building was approved by the city last month, and is being developed by Chicago-based Riverside Investment & Development and Dallas-based The Howard Hughes Corp.
The deal would be the trophy high-rise’s first tenant, and the largest transaction recently completed in downtown Chicago. The move is part of the Charlotte, N.C.-based bank’s efforts to consolidate Chicago operations.
The 110 N. Wacker Dr. site contains an existing low-rise building that serves as mall owner GGP’s HQ, which will be razed. The new tower features an expansive 40-foot tall lobby, a covered 45-foot wide riverwalk and floorplates ranging up to 30,000 square feet.
JLL is advising the bank in its office search. CBRE’s Drew Nieman, Sara Spicklemire and Christy Domin are handling the office leasing assignment.
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