Savills represented Senior Lifestyle Corporation in a nearly 34,000-square-foot, multi-year extension at 303 East Wacker in the Loop. The building, owned by Beacon Capital, recently finalized a $35 million renovation.
Savills Vice Chairmen Eric Feinberg and John Goodman and Assistant Director Brandon Nasatir were selected to advise on the long term real estate solution for Senior Lifestyle. The company wanted to remain in the Loop to be close to major transportation hubs and considered several relocation options.
The Savills team surveyed the market and identified a selection of viable opportunities that fit the requirement. After analyzing the options, Senior Lifestyle opted to remain at its current location at 303 East Wacker, where it has resided for almost 10 years.
Senior Lifestyle is a privately held owner-operator, developer and manager of senior housing communities with a portfolio consisting of 128 communities containing 13,800 units located from coast to coast. The company offers independent living, assisted living, memory care, and skilled nursing accommodations, and is routinely recognized as a leader in the delivery of innovative programs and hospitality services for all levels of care.
303 East Wacker is a 30-story office tower located on the Chicago River and each level features views of the river, Lake Michigan, and the city skyline. The former penthouse floor was converted into a tenant lounge and fitness center and features large, operable windows that bring in fresh lake air. The renovation also includes a new café in the lobby, a private outdoor plaza with multiple meeting spaces, and an updated conferencing center. The building also has Metra train shuttles, an underground parking garage, a bike room, and direct pedway access to all CTA ‘L’ stops. Jack O’Brien and Colton Riemenschneider of The Telos Group LLC represented the building in lease negotiations.
