International law firm McDermott Will & Emery LLP has signed a letter of intent with Hines and Ivanhoé Cambridge to move its largest office from 227 W. Monroe St. to an iconic, new location at the bend of the Chicago River. The deal calls for McDermott to become the anchor tenant of River Point, a new office tower to be located at 444 W. Lake St. in the West Loop, beginning in the spring of 2017.
McDermott, which now has some 1,100 lawyers in 19 cities around the world, was first established as a small, Chicago tax law firm in 1934.
Groundbreaking for the new River Point office tower took place on Jan. 15. River Point will be a state-of-the-art, 45-story office tower located in Chicago’s West Loop and the first such project to break ground in Chicago since the financial crisis of 2008. Designed by Pickard Chilton Architects, the building offers dramatic, world-class architecture, efficient interior design and outstanding views. McDermott will lease some 225,000 square feet of Class A office space in the new building, which will provide first-class amenities, including a 1.5-acre public park and landscaped river walk, a to-be-announced white table cloth restaurant, retail shops, a fitness center and building conference center, with views of the Chicago River and Wacker Drive.
“River Point will be the first major office building to rise in Chicago since the onset of the financial crisis and we couldn’t be more excited to be a part of it,” said Jeffrey Stone, co-chair of McDermott Will & Emery. “Our lawyers, staff and clients will be inspired by the building’s unique design and unmatched views of the greater Chicago area. We’re delighted to build upon our 80-year history in Chicago with this bold move into the future.”
“River Point has been designed to meet all the needs of a 21st Century law firm and we’re very pleased to become its anchor tenant,” added McDermott co-chair Peter Sacripanti. “We want to thank Hines and Ivanhoé Cambridge for their outstanding cooperation and flexibility throughout this process. We look forward to working with our partners over the next four years to make this building the best it can be.”
River Point, which features a curved design, will boast noteworthy signage clearly identifying the firm to its clients and prospects. The building is being designed to achieve LEED certification through the U.S. Green Building Council and will incorporate many custom features for McDermott.
McDermott Will & Emery LLP was represented by Colliers International’s David Kahnweiler, Bob Chodos and Steve Levitas. Greg Van Schaack and Tom D’Arcy led the team at Hines and Ivanhoé Cambridge. Pickard Chilton Architects are the designers of River Point.
