Savills completed a 13,424-square-foot lease on behalf of medical technology company, Intelligent Medical Objects (IMO), in Chicago’s historic Inland Steel Building at 30 W. Monroe Street. This move marks a new downtown presence for the company, which relocated its headquarters to Rosemont, Illinois in February. With both leases complete, the company has increased its overall footprint by almost 100 percent.
Advising IMO in the transaction were Jon Azulay and Robert Sevim of the recently rebranded Savills, along with Adam Southard. Rich Dale and Loredana Perri, members of Savills’ project management services practice, are overseeing office build-out and relocation. Mark Buth and Kelsey Morgan of MBRE represented the owner, Capital Properties.
“The central business district has long-served as an epicenter for companies looking to expand their businesses in a highly attractive area,” said Azulay. “The historic significance of this particular building, combined with easy accessibility from the suburban headquarters, make this the ideal location for IMO’s Chicago expansion.”
IMO, the market leader in terminology solutions for healthcare enterprises, will move from its current WeWork space at 100 S. State Street in Chicago to the new location this summer. The lease, which encompasses the entire 18th floor, is unique for a tenant of this size. There are flexibility provisions in place for future growth to expand to the above and below floors. The office will initially house approximately 75 employees.
“We are excited to expand into a permanent downtown location at the Inland Steel Building,” said IMO president and CFO, Dan Watanapongse. “The accessibility to our headquarters in Rosemont as well as the highly-desired loop location is exactly what we were looking for to solidify our roots in the Chicago market.”
This is the first permanent downtown office space for IMO. The Inland Steel Building was selected because of its wide-open, unobstructed layout, deep floor areas, proximity to the Chicago Transit Authority’s blue line and access to IMO’s Rosemont headquarters. The location provides greater reach in conducting business and supports the company’s continued emphasis on attracting and retaining the best talent and offering an exceptional working environment. IMO has received the Chicago Tribune’s “Top Workplaces” honor for five consecutive years, beginning in 2014.
“Tenants with dual locations in the suburbs and downtown has been a major trend,” said Sevim. “We should expect to see more expansions and relocations from companies to attract the best incoming talent and in close proximity to a diverse range of businesses.”
