ILLINOIS CPA SOCIETY SIGNS 21,200 SF LEASE RENEWAL AT 550 WEST JACKSON STREET
Chicago, IL (October 9, 2012)
International commercial real estate services firm Studley is pleased to announce that the Illinois CPA Society (ICPAS) has signed a 21,200-square-foot lease renewal at 550 West Jackson Street.
With more than 24,000 members statewide, the ICPAS is professional membership organization dedicated to enhancing the value of the CPA profession. ICPAS has occupied 21,200 square feet of the ninth floor of 550 West Jackson Street since 2002.
Studley Executive Vice President Richard Schuham represented the tenant. Jack O’Brien of the Telos Group represented the landlord in the transaction.
“Although ICPAS’s lease was not due to expire for several years, we proactively approached the landlord to take advantage of the market,” explained Mr. Schuham. “Our strategy proved to be successful. Not only were we able to negotiate lower rates, but we also arranged for the tenant to receive allowances to upgrade its space.”
Founded in 1903, ICPAS is the fourth largest state CPA society in the nation. ICPAS represents Illinois CPAs in public accounting and consulting, corporate accounting and finance, government and not-for-profit organizations as well as three affiliate member groups: students, educators and related finance professionals.
Mr. Schuham has been serving as ICPAS’s exclusive real estate agent since 1992.