Ivanhoé Cambridge and Hines have recently executed about 75,000 square feet of new leases at 10 & 120 South Riverside Plaza, a two-building, 1.4-million-square-foot, Class-A office complex in Chicago’s West Loop submarket.
Over the course of the last 12 months, the property has signed and renewed approximately 156,000 square feet of office leases in total. The new tenants include:
- Attorneys’ Liability Assurance Society (ALAS), providing a superior source of insurance coverage alongside a level of service that is unmatched within the commercial marketplace (37,000 square feet, arranged by David Stein of Steinco Corporate Real Estate Advisors)
- Pinterest, the visual inspiration platform where people come to search, save, and shop the best ideas (24,000 square feet, arranged by Travis James, Hugh “Scotty” Scott, Scott Becker, Rob Schmidt and Eddie Viliunas of JLL)
- Syska Hennessy Group, a full-service engineering firm that specializes in MEP, information and communication technology (ICT) and commissioning for the government and commercial sectors (14,000 square feet, arranged by Brian Means of JLL).
Kelsey Scheive and Kelsey Morgan of CBRE oversee office leasing for the buildings on behalf of ownership.
The new tenants join Raymond James (arranged by Todd Brandon, Steve Schneider, Chip Evans and Presley Norby of Cushman & Wakefield); Levenfeld Pearlstein (38,000 square feet, arranged by Todd Mintz of JLL); and Vitality Group (29,000 square feet, arranged by Matt Carolan and Rob Schmidt of JLL), all of whom recently signed leases at the property.
10 & 120 South Riverside Plaza is currently undergoing an extensive $75 million redevelopment program, which is slated for completion in Q4 2024. The redevelopment will expand the building’s lobby, pivoting from mid-block ingress/egress to entrances on Monroe Street, which will accentuate the property’s hospitality experience. It will also add prominent monument signage; a redesigned plaza to create a park-like setting, featuring robust green space with ample seating; a tenant-exclusive indoor/outdoor lounge; a 200-seat conference center; an expanded fitness center with an adjacent exterior pickleball court and multi-season fitness court; and river-facing balconies.
The property is located directly adjacent to Ogilvie Transportation Center, Union Station and the “L” train system, providing tenants with convenient access to public transportation. The West Loop neighborhood has become a trendy hotspot for Chicago residents, offering a wide range of unique eateries, ample nightlife and live music venues, upscale shopping and boutiques including the Randolph Street Market, and much more.
