{"id":6784,"date":"2026-04-16T07:15:08","date_gmt":"2026-04-16T07:15:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/blog\/?p=6784"},"modified":"2026-04-14T07:42:32","modified_gmt":"2026-04-14T07:42:32","slug":"qube-research-technologies-bmo-tower-chicago-office-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/blog\/qube-research-technologies-bmo-tower-chicago-office-lease\/","title":{"rendered":"London\u2019s Qube Research Expands U.S. Footprint with Lease at Chicago\u2019s BMO Tower"},"content":{"rendered":"

Qube Research & Technologies, a London-based quantitative hedge fund, has leased more than 29,000 square feet on the 39th floor of BMO Tower at 320 S. Canal St. in Chicago\u2019s West Loop. The deal, first reported by Crain\u2019s Chicago Business, gives the firm its third U.S. office after New York City and Houston, both of which opened last summer.<\/p>\n

BMO Tower is a 52-story building that incorporates 1.5 million square feet of class A Chicago office space<\/a> and was developed by a joint venture of Riverside Investment & Development and Convexity Properties. Completed in 2022 adjacent to Union Station, it is now 84% leased, according to its owners. The tower\u2019s tenant roster includes BMO as its anchor alongside law firms Chapman & Cutler; Skadden Arps; Faegre Drinker; Kilpatrick Townsend; Antares Capital; and Molson Coors.<\/p>\n

Qube was spun out of Credit Suisse in 2018 and manages tens of billions of dollars in assets with more than 1,400 employees globally. The firm has not disclosed its Chicago hiring plans or commented on the lease.<\/p>\n

The lease adds to a short list of new-entrant deals in a downtown Chicago office market where vacancy remains elevated. According to Yardi research data, Chicago\u2019s office vacancy averaged 18.4% in February (above the national average of 17.6%) with asking rents at $28.71 per square foot.<\/p>\n

\"\"
BMO Tower, 320 S. Canal Street, Chicago<\/figcaption><\/figure>\n

But, that citywide figure obscures a widening gap between newer trophy buildings and older commodity stock. BMO Tower \u2014 which connects to Union Station\u2019s Metra and Amtrak concourses via an underground pedway \u2014 has drawn tenants willing to pay premium rents for modern floor plates, outdoor terraces and transit access. Kilpatrick Townsend consolidated from two older downtown locations totaling 71,000 square feet into 29,000 square feet at BMO Tower last year, a common pattern among firms trading square footage for building quality.<\/p>\n

New office construction has largely stalled across the Midwest. Less than 500,000 square feet was under construction across all major markets in the region in February 2026. Nationally, just three markets had at least 1 million square feet of office space breaking ground in 2025, which is down from 20 markets in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

The BMO Tower incorporates 1.5 million square feet of premium Chicago office space and will be home to Qube Research & Technologies’ third U.S. office.<\/p>\n","protected":false},"author":3163,"featured_media":5528,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-office-news"],"acf":[],"yoast_head":"\nQube Research & Technologies Signs 29,000-SF Office Lease at Chicago's BMO Tower<\/title>\n<meta name=\"description\" content=\"London-based hedge fund Qube Research & Technologies has leased 29,000 square feet of Chicago office space in the BMO Tower, marking the firm's third U.S. office.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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