Vi, developer, owner and operator of retirement communities, has inked a 30,405-square-foot lease at Willis Tower in Chicago. Vi will relocate to the new space in early 2020 and will occupy the entire 84th floor of the building. Savills arranged the leasing transaction on behalf of the tenant. Telos Group represented the owner, EQ Office.
Willis Tower is situated at 233 South Wacker Drive in the heart of downtown Chicago, near Quincy metro station. The office building is around 17 miles from O’Hare International Airport, and it is easily accessible via Interstate 90. The iconic 110-story LEED Gold building was constructed in 1973 and sits on roughly 2.9 acres. Features of the building include a newly added 30,000-square-foot fitness center, a café and lounge on the 33rd floor, as well as event spaces such as Altitude and the Steel Room.
The Willis Tower is currently undergoing a $500 million renovation, which includes the reconfiguration of more than 400,000 square feet space. This renovation includes the remaking of five floors. The owner aims to add more retail space to the building in order to make it more attractive for tenants and tourists. The revamp is expected to be completed by mid-2020, according to Yardi Matrix.
Savills Vice Chairman & Director Lisa Davidson and Midwest Region Lead Joe Learner advised Vi on the transaction. Senior Managing Director Rich Dale and Director Loredana Perri, members of the firm’s Project Management practice, are overseeing the office build-out.