Hometown America, a real estate investment company, will be keeping its headquarters at 150 North Wacker Drive, having just signed a lease renewal for the 27th and 28th floors.
With 18,300 square feet, the company is the largest tenant in the American Realty Advisors’ Class A building located in Chicago’s central business district.
“We went into the market to look for space options that offered the right balance between space efficiency and economics”, explained EVP, Director Richard Schuham of international commercial real estate services firm Studley, who represented Hometown America with Studley colleagues John Goodman and Marc Brash. “Though today’s office market offered us some truly viable options, Hometown’s current landlord stepped up with a compelling reason to stay-put.”
The lease includes reduced occupancy expenses, and ample flexibility to support a number of business strategies. The company also plans on making additional improvements to the space that it has occupied since 2002.
“We desired to explore our space utilization and associated costs. Studley generated the most appropriate plan and executed it in an effective and professional manner. We emerged from the process with a cost effective lease and the flexibility to help us execute our business plan,” said Patrick Zilis, Chief Investment Officer of Hometown America.
The landlord was represented by Ron Lakin and Christy Domin of Transwestern.
Studley is the only global tenant advisory firm with a pure tenant representation delivery platform. Founded in 1954, Studley pioneered this conflict-free business model. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley throughout Europe, Studley provides strategic real estate consulting services to top-tier corporations, law firms, nonprofits, government agencies and institutions of higher education. Information about Studley is available at www.studley.com.