CA Ventures and Midwest Property Group Ltd. kicked off construction in Chicago’s River North at 448 North LaSalle on a boutique, class A office building. Already 75 percent leased, JLL announced two anchor tenants with the news of the groundbreaking—CA Ventures will occupy the lower five floors and WeWork will lease four floors of the 12-story building.
Slated for completion in Q1 of 2021, JLL will market the remaining three floors (45,000 square feet) of creative office space. Lamar Johnson Collaborative is the architect behind 448 North LaSalle, and Lendlease served as the general contractor. National Real Estate Advisors, LLC, on behalf if its fund, was the lender for the project. JLL’s team of executive vice president Chris Cassata and senior vice president Craig Coupe will lease the property on behalf of the developer.
448 North LaSalle is over 172,000 square feet with floorplates starting at 15,000 and floor-to-ceiling heights over 12 feet. Tenants will have direct access to River North’s transportation, dining and endless entertainment options. Additionally, the building will offer luxury amenities including a rooftop deck, lounge, fitness center and bike room.
“CA Ventures has offices across the globe, but the talent pool in Chicago, excellent transportation options in River North and ease of access to so many markets via O’Hare made staying in Chicago and relocating our headquarters to 448 North LaSalle an obvious choice,” said CA Venture’s global head of investments and principal, John Diedrich.
