Private-equity firm Victory Park Capital Advisors LLC is reportedly finalizing a long-term lease to move its headquarters to the top floor of a proposed 53-story building at 150 N. Riverside Plaza.
The firm will lease about 25,000 square feet in the 1.2 million square foot project, according to a report by Crain’s Chicago Business.
The development is intended to respond to Chicago’s demand for highly efficient and technology-enabled “Class A+” office space, which currently comprises less than 10 percent of the overall Chicago office market, according to 150 N. Riverside developer, O’Donnell Investment Company.
In the Crain’s report, Victory Park’s broker, David Stein of Chicago-based Steinco Inc., confirmed that Victory Park ended advanced negotiations for the top floor of River Point, a 54-story tower being developed at 444 W. Lake St. by a joint venture led by Houston-based Hines Interests L.P.
Stein could not be reached for comment Wednesday morning.
Victory Park will join William Blair & Co., which has agreed to lease more than 300,000-square feet at 150 N. Riverside Plaza.
So far, law firm McDermott Will & Emery LLP plans to lease 240,000 square feet at River Point, and law firm DLA Piper LLP will lease 175,000 square feet there.