.jpg)
HEARN acquired 2 North LaSalle, an approximately 700,000 SF office tower in the Central Loop of Chicago, in November 2016, through a loan modification after the property had been transferred to special servicing. Prior ownership was unable to provide the capital necessary to make certain building improvements, as well as retain and attract new tenants to the property. This inability to subsidize a market driven leasing program led to the need for a recapitalization.
HEARN repositioned and rebranded this asset by upgrading the main lobby, refreshing the common corridors and washrooms, and creating a tenant amenity floor including a new fitness center, tenant lounge and conference facility. Most importantly, new ownership is positioned to offer competitive rental rates accompanied by market tenant inducement packages that successfully maintain existing occupancy while attracting new tenants to the property.
Details
- Approximately 700,000 SF
- 26 Stories
- Built 1979; Renovated 2017
- Architect: Perkins + Will
Amenities
- Fitness Center
- Bike Storage
- Conference Room
- Banking
- Food Service
- Convenience Store
- FedEx
- Onsite Management by HEARN