Northern Trust will occupy 462,000-square-feet of space at 333 South Wabash with the opportunity to expand up to 750,000-square-feet in the future, according to a statement from NKF.
Northern Trust, represented by CBRE, will move some of its Chicago staff to 33 South Wabash in 2020 after extensive building renovations by ownership are completed. CBRE’s Todd Lippman, Todd Doney, James Whalen, Maura Mahoney and Scott Brandwein participated in the transaction. NKF Bill Rolander and Jon Cordell represented building owners The John Buck Company and its partner Morgan Stanley in the transaction.
Affiliates of The John Buck Company and Morgan Stanley purchased 33 South Wabash from CNA Financial Corporation last year, after CNA signed a lease to relocate its offices leaving a large vacancy in the 1.2-million-square-foot iconic red building.
The renovations include construction of a new lobby, an upgraded fitness center, a daycare and tenant lounge. The overhaul will also include the addition of an auditorium, foodhall and a new private coach service for building tenants. Those changes are slated to be complete in 2019.
Rolander and Cordell will continue to market the remaining office space.