The Bank of America Corporation will be the anchor tenant at 110 North Wacker Drive in a 51-story office tower, Mayor Rahm Emanuel and the Howard Hughes Corporation announced Thursday.
The agreement completes the next milestone in the collaboration between The Howard Hughes Corporation, Riverside Investment & Development, Goettsch Partners and CBRE.
Bank of America has signed a lease to fill 500,000 square feet to support growth and improve office utilization. The lease accounts for about a third of the 1.35-million-square-foot space. JLL represented Bank of America in the deal and CBRE represented the owner of the office building.
Construction is expected to begin in 2018 and will be complete in 2020.
Zoning approval for the project includes a voluntary $19.6 million payment into the city’s neighborhood opportunity bonus system which supports commercial projects on the South and West sides.
