New 53-story West Loop Tower Boasts Sweeping River Views, Set for 2016 Completion
In an announcement today, developer O’Donnell Investment Company welcomed national law firm Polsinelli as a tenant in the new 53-story building being constructed at 150 North Riverside in Chicago’s West Loop. Polsinelli signed a 13-year lease for four full floors of space in the tower’s midrise section.
Founded in 2010 by John O’Donnell, the development company describes the 150 North Riverside project as “a bold expression of the firm’s commitment to excellence,” and says the building will “strike an iconic profile at the confluence of the three branches of the Chicago River.”
Established in 2006, the Chicago office of Polsinelli has grown from a founding group of six attorneys to a staff of nearly 100 lawyers, working in a range of practice areas including health care, financial services, employee benefits, real estate, intellectual property, technology and business litigation. With this new location, the firm has the capacity for further growth and can provide world-class conference facilities and amenities for its employees and clients. Polsinelli expects to move into the new building in February 2017.
“Partnering with Polsinelli is really exciting for us,” said John O’Donnell. “They embrace growth and change, as we do, and they are strategic and business-minded in their decisions.”
The Polsinelli team is equally enthusiastic. Chicago Managing Director Anthony Nasharr said, “We’re pleased to be part of such an exciting project. We looked at a number of different spaces around the city and this one was the best suited for who we are and how we work. It’s bright, efficient, and high-tech. It gives us room to grow, flexibility to work collaboratively and is a located in the bustling, dynamic West Loop.”
“Having the opportunity to partner with a high-caliber client like Polsinelli is an honor,” said Tom Tunnicliff, Executive Vice President at Cushman & Wakefield. “The 150 N. Riverside transaction caps a year of great success and momentum for Polsinelli across U.S. markets, and I am eager to watch a strategically-minded client align with Chicago’s most innovative development to-date.”
Polsinelli shareholder William Sweeney, learning of the planned move from the firm’s current location at 161 N. Clark, commented, “Not only will the move place us into the heart of the most up and coming area of the city, but also provides easy access to both Union Station and Ogilvie Transportation Center and all the major expressways. My commute from Union Station to the office will turn into an easy five-minute walk up the Riverfront.”
150 North Riverside is a 1.2 million square foot development located on the west bank of the Chicago River between Randolph and Lake Streets at the confluence of the three branches of the Chicago River. Construction began in July, 2014, with delivery to market planned for the 4th quarter of 2016.
The development’s innovative design rises from a central core element allowing for extensive and inviting open spaces at its base. The building will be LEED Gold pre-certified featuring a green roof, over one acre of park areas, riverside amphitheater and heavily landscaped riverwalk. Full project details, photos, videos and leasing information can be found at www.150northriverside.com.
The building is designed to accommodate the trend toward higher densities for office users by utilizing highly efficient floor plans and substantial conference facilities. The rectilinear, column-free floor plan, abundance of natural light in an open office environment, state-of-the-art infrastructure and a robust elevator system will allow 150 North Riverside tenants to be more cost efficient.
This project is being developed in partnership with Wanxiang America Real Estate Group. The architect on 150 North Riverside is Goettsch Partners, the 2013 AIA Firm of The Year (Chicago Chapter) and the designers of 111 South Wacker Drive, One North Wacker Drive, 155 North Wacker Drive and the world-renowned Abu Dhabi Financial Center in the United Arab Emirates. CBRE, a leading full-service commercial real estate provider in Chicago for over 30 years, led by Drew Neiman, served as the leasing agent for John O’Donnell for the development, and Cushman & Wakefield Chicago, led by Tom Tunnicliff and Scott Shelbourne, represented Polsinelli.