CHICAGO, IL (January 8, 2015) – GlenStar Properties, the Chicago-based commercial real estate investment and development firm, has recently signed two notable transactions totaling 60,000 square feet at the Chicago Board of Trade Building.
In the first, ADM Investor Services, Inc. (ADMIS) has signed a new, long-term lease for 30,136 square feet on the 21st floor. The firm will relocate from the 16th floor where it currently occupies 26,576 square feet. Robert Sevim and Lisa Davidson of Savills Studley represented ADMIS in the transaction.
“We are impressed with the significant improvements GlenStar has made to the Chicago Board of Trade Building,” said Tom Kadlec, president of ADMIS. “After considering other properties, we found the CBOT Building continues to be the best environment for our growing firm, our customers’ trading requirements and our long-term commitment to the futures industry.”
In addition, Wedbush Securities has signed a long-term renewal and expansion at the landmarked property, increasing its current 18,133-square-foot footprint by another 10,994 square feet. David Miller with JLL represented Wedbush in the transaction.
“We are excited to grow and retain two premier, world-renowned tenancies at the property,” said GlenStar’s Christian Domin.
Domin and Sandy Macaluso are the exclusive leasing agents at the CBOT Building.
GlenStar completed a two-year, comprehensive redevelopment of the historic Chicago Board of Trade Building in May. Efforts resulted in new ceilings, lighting and bathrooms on 40 floors; a sprawling new lobby; a refreshed 12th floor atrium; a new 24/7/365 conference center complete with high-end video conferencing capabilities; a 10,000 SF, 24/7/365 fitness center; and a new array of retail offerings. In addition, the building opened its own $1.2 million meet-me-room and fiber backbone riser system.
Today, a variety of tenants from different industries – from tech to marketing to logistics firms – are calling the long “closed property,” once known only to traders at the CBOT and CME, home.