Transwestern announces that the Illinois Housing Development Authority signed a new 72,645-square-foot lease at Michigan Plaza, 205 and 225 N. Michigan Ave. in Chicago, with a commencement date of Oct. 1 of this year.
Transwestern Agency Leasing Executive Vice President Mark Buth, Senior Vice President Kathleen Bertrand and Senior Vice President Steve Hennessy represented Michigan Plaza landlord Aegis Asset Management.
The nearly 2-million-square-foot complex is also managed by Transwestern, with Hennessy serving as General Manager. IHDA will occupy space in the 978,693-square-foot 225 N. Michigan Ave. building. According to Transwestern Research, this is the largest new lease in the East Loop submarket since the second quarter of 2023.
Prominently located on Michigan Avenue south of the Chicago River, amenities at Michigan Plaza include multiple tenant lounges, a state-of-the-art fitness center, and outdoor space. The second-floor lounge is connected to the East Plaza, an outdoor terrace with a bocce ball court and putting green. The third-floor lounge provides tenants with access to a modern kitchen and conferencing with space for up to 125 guests. Near Red and Blue Line train stations, Michigan Plaza tenants also have access to 350 parking spots, exclusive shuttle buses to prominent Metra stations and indoor bike storage.
IHDA was represented by Avison Young brokers Jeff Lindenmeyer, Chris O’Leary and Shannon Connerty Morris.
