CBRE to bring 103,000-SF headquarters sublease opportunity to market in West Loop

CBRE is marketing a 103,000-square-foot sublease opportunity at 101 N. Wacker Drive in the West Loop of Chicago. The space serves as the headquarters for leading freight car provider, TTX Company.

The space is situated across four floors in the Wacker Drive office tower and went through a modernization in 2019, guided by leading architect, Gensler. Amenities within the headquarters premises include a private fitness center with locker rooms, training and conference center, large café, executive offices, open workstations and private reception.

Todd Lippman, James Whalen, Jon Milonas, Bill Sheehy, and Maura Flanagan of CBRE will market the opportunity on behalf of TTX.

“The size and term available on this space make it a one-of-one opportunity,” said Lippman. “The ability to occupy an updated headquarters space, at a prime West Loop location, will have broad appeal to major users in the market who can benefit from a turn-key solution.”

101 N. is located in the West Loop submarket with extremely close proximity to commuter rail stations and public transportation. Completed in 1980, 101 North Wacker is a 599,000-square-foot, 23-story office building, designed by Perkins and Will, and has earned the ENERGY STAR designation. Recent building renovations include an updated lobby, modernized elevators and expanded amenities.

“As a company that serves leading rail providers across North America, TTX values the dynamic business environment Chicago offers. However, the nature of our work is becoming less centralized and is leading us to modify the scale of our centralized headquarters operations,” said Pat Loftus, senior vice president law and administration of TTX.

While sublease space continues to come to the market in Chicago, spaces of this size are still rare. There are now five subleases of over 100,000 square feet available, but TTX’s space is the only one among them the offers that stability of a longer lease term. This offering adds to the 5,300,000 square feet of total sublease space available in downtown Chicago according to a recent CBRE report. Of that, roughly 3,000,000 square feet is comprised of sublease spaces between 10,000 to 50,000 square feet.