In line with Savills Studley’s continued advancement nationally and within the Midwest, the firm announced Monday that it will relocate its Chicago office to 150 North Riverside Plaza in the West Loop. The soon-to-open, state-of-the-art 1.2 million-square-foot class A tower is situated along the Chicago River and will be home to Savills Studley’s business and expanding workplace in Chicago, where the firm first arrived in 1962.
“In the same way we advise our clients, we carefully sought to execute a real estate solution that maximizes productivity, enhances culture and embodies the company’s values,” said Robert Sevim, Executive Vice President, Co-Head of Chicago Region of Savills Studley. "We are excited to move into a dynamic new environment that will invigorate our growing workforce and deliver tremendous work area flexibility within a contemporary and sophisticated framework."
Savills Studley is the leading commercial real estate services firm specializing in tenant representation—a conflict-free business model pioneered by the firm’s founder in 1954. The firm brought this model to Chicago over 50 years ago. What began as a three-person office has grown over time to now feature more than 30 tenant advisors serving the real estate needs of businesses across a wide range of industries.
As a testament to the firm’s unwavering client advocacy and creative thinking, Savills Studley's Chicago Office has won the prestigious Greater Chicago Food Depository’s Broker of the Year Award at the Annual Chicago Commercial Real Estate Awards Dinner in six of the past 12 years. The creative solutions have continued into 2016 with Savills Studley professionals executing landmark Chicago real estate transactions, including the sale of the Old Post Office and CNA Financial Corporation’s 275,000 square foot relocation to 151 North Franklin, Chicago’s newest high-rise office development.
In February 2017, Savills Studley will move to the 19th floor of 150 North Riverside Plaza, a building owned by Riverside Investment & Development Company. The iconic architecture firm Skidmore, Owings & Merrill (SOM) will design Savills Studley’s office within the tower. 150 North Riverside Plaza has been called “Chicago’s most innovative commercial building,” and upon completion, will receive gold certification through the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program and earn platinum status from WiredScore.
The determination to select 150 North Riverside was the result of an extensive market search and workplace strategy analysis. Savills Studley will join marquee tenants within the new tower, including Hyatt Hotels Corp., William Blair & Co., Navigant and Victory Park Capital Advisors LLC.
“This new space will support our collaboration efforts and our growth strategy moving forward.” said Eric Feinberg, Senior Vice President, Co-Head of Chicago Region of Savills Studley. “The space and building will reflect our continued commitment to retaining and recruiting the top talent in the industry.”
Drew Nieman and Christy Domin of CBRE represented the landlord in this transaction.
Bounded by Lake and Randolph Streets and the Chicago River, 150 North Riverside is a transit-oriented development with immediate proximity to Union Station, Ogilve Transportation Center, multiple “El” stops and all expressway systems. Savills Studley will benefit from superior on-site amenities and services at the property, highlighted by an 8,000-square-foot riverfront fitness center; a first-class service restaurant and casual dining venue; executive and valet parking; best-in-class wireless connectivity and infrastructure; and riverfront conference facilities.
Savills Studley’s Chicago office relocation is part of the firm’s continued growth both locally and nationally. Over the previous 12 months, the firm has established several new offices in thriving real estate markets across the United States, including Phoenix, Austin, Minneapolis and Baltimore. In addition, the firm has completed several high-profile acquisitions, highlighted by the purchase of Real Facilities in Toronto, a major tenant representation consulting firm in Canada; Cooper Brady Partners in Silicon Valley, the top performing firm in one of the nation’s hottest areas; Tampa-based Vertical Integration, which strengthens the firm’s occupier services and workforce strategy business; and New York-based management consulting firm KLG Advisors, a well-known firm that provides strategic location and workforce advisory services, including portfolio evaluation and realignment, to large corporations.