Rideshare firm Uber is reportedly in discussions to lease approximately 450,000 square feet in Chicago’s Old Post Office. New-York-based 601W Companies is in the midst of an $800 million renovation on the 2.8 million-square-foot, Art Deco building, with the first tenants scheduled to move in by September.
As first reported by the Chicago Tribune, California-based Uber Technologies is in advanced talks, though the technology firm declined to confirm that a deal may be happening. Should the transaction go forward as rumored, it would be one of the largest office deals in Chicago in years, enough to accommodate thousands of employees at the highway-straddling behemoth.
Steve Smith, Jamey Dix and Daniel Heckman of The Telos Group are the brokerage team tasked with bringing tenants to the rejuvenated property. Firms that have confirmed leases in the building include Walgreens, Ferrara Candy, the Chicago Metropolitan Agency for Planning, AbelsonTaylor and Kroger subsidiaries Home Chef and 84.51°. If the deal with Uber goes forward as reported, the Old Post Office would have approximately 991,000 square feet locked up—roughly a third of its rentable space.
The San Francisco-based tech firm has been looking to consolidate its Chicago operations, which include Uber Freight, Uber Ride and Uber Eats. Chicago is currently home to Uber’s largest office footprint outside of Silicon Valley, and this deal would solidify that reputation. Uber now occupies around 185,000 square feet between spaces in 225 W. Randolph Street in the Loop, 111 N. Canal Street in the West Loop and 370 N. Carpenter Street in Fulton Market.
601W Companies acquired the iconic property in 2016 and tapped architecture firm Gensler to draw up a vision for the building’s second life, including the addition of a food hall, a new riverwalk and a 3.5-acre, tenant-accessible rooftop. Construction on second-floor amenities that include a fitness center, lounges and a conference space are on track for a June completion.