Redeveloping Marshall Fields building may have first office tenant

Vivid Seats, a Chicago-based secondary market online ticket platform, will reportedly move into the former Marshall Field building. Brookfield Properties is in the midst of a repositioning program to convert the upper floors of the landmark property into office space, expected to be completed by June 2020.

According to a report by Crain’s, Vivid Seats is looking to lease approximately 110,000 square feet of the property, located along State Street at 24 E. Washington Street in the city’s Loop. The company currently occupies about 60,000 square feet at 111 N. Canal Street and subleases another 27,000 square feet at 225 W. Randolph Street.

After acquiring the top six floors of the historic building last year for $30 million, Brookfield implemented a repositioning campaign that will include up to 650,000 square feet of office space, as well as first in class amenities and rooftop deck with expansive views of Lake Michigan. The retrofit and renovation will preserve the iconic features of the property while bringing the critical components for an office user up to Class A condition.

Clayco and its in-house architecture firm, The Lamar Johnson Collaborative, are collaborating with Brookfield on the redevelopment. Brad Serot, a vice chairman with CBRE and leader of its Chicago tech and digital media practice group, represents Vivid Seats. Telos Group principal, Jack O’Brien, and leasing directors, Dan Heckman and Caroline Colnon, represent Brookfield.