{"id":1004211013,"date":"2018-03-22T03:15:26","date_gmt":"2018-03-22T11:15:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004211013"},"modified":"2022-12-08T04:37:12","modified_gmt":"2022-12-08T12:37:12","slug":"american-bar-association-renews-chicago-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/american-bar-association-renews-chicago-lease\/","title":{"rendered":"American Bar Association Renews Chicago Lease"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004210110\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/321-N.-Clark-St.-Chicago.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004210110\" data-attachment-id=\"1004210110\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lettuce-entertain-to-open-new-chicago-restaurant\/321-n-clark-st-chicago\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/321-N.-Clark-St.-Chicago.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"321 N. Clark St., Chicago\" data-image-description=\"&lt;p&gt;321 N. Clark St., Chicago&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;321 N. Clark St., Chicago&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/321-N.-Clark-St.-Chicago.png?w=800\" loading=\"lazy\" class=\"wp-image-1004210110 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/321-N.-Clark-St.-Chicago.png\" alt=\"321 N. Clark St., Chicago\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/321-N.-Clark-St.-Chicago.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/321-N.-Clark-St.-Chicago.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/321-N.-Clark-St.-Chicago.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004210110\" class=\"wp-caption-text\">321 N. Clark St., Chicago<\/p><\/div>\n<p>The American Bar Association has renewed its lease at 321 N. Clark St. in Chicago\u2019s River North neighborhood for the fourth time. The organization&#8217;s\u00a0 161,000-square-foot office has been occupying the building\u2019s 17th through 22nd floors since 2004. Savills Studley represented the tenant in the transaction, while Hines worked on behalf of the landlords, Diversified Real Estate Capital and American Realty Advisors. \u00a0<\/p>\n<p>With the new agreement, ABA gained several improvement concessions and a lower rent.\u00a0Also, the tenant relinquished control of a portion of the ground and lower floors\u00a0as the owners are working to accommodate a new <a href=\"https:\/\/www.commercialsearch.com\/news\/lettuce-entertain-to-open-new-chicago-restaurant\/\">Lettuce Entertain You restaurant<\/a> and a special events venue at the River North building. The renovation of the organization\u2019s headquarters\u00a0is expected to be completed by\u00a0summer.<\/p>\n<h2>A long-lasting collaboration<\/h2>\n<p>Feinberg, together with Vice Chairmans John Goodman and Joe Learner, Corporate Managing Director Renae Bradshaw and Senior Managing Director Rich Dale arranged\u00a0the lease on behalf of the tenant.<\/p>\n<p>\u201c<em>Using the tenant improvement package negotiated by Savills Studley along with the firm\u2019s workplace strategy consultation and project management services, the ABA will be able to restack its occupancy to a more efficient space solution in line with the latest workplace standards, featuring collaborative and open floor plans with increased exposure to natural light for its employee base,<\/em>\u201d said Savills Studley Senior Vice President &amp; Chicago Region Co-Head Eric Feinberg, in prepared remarks.<\/p>\n<p>Savills Studley has a long-standing collaboration with ABA, having represented the association in all its lease\u00a0negotiations\u00a0at 321 N. Clark in addition to the $69.2 million sale of its former Washington D.C.\u2019s headquarters back in 2011. Hines\u2019 Managing Director Brian Atkinson and General Manager Patrick Philbin represented the landlord.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A team of brokers from Savills Studley, led by Eric Feinberg and John Goodman, negotiated the lease expansion on behalf of the organization. The agreement includes tenant improvement concessions and lower rent expenses.<\/p>\n","protected":false},"author":1064,"featured_media":1004210110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1491,21743,13,21742,21747],"tags":[39300,32797,32775],"class_list":["post-1004211013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-chicago","category-deals","category-midwest","category-latest","category-office","tag-diversified-real-estate-capital","tag-hines","tag-savills-studley"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>American Bar Association Renews Chicago Lease - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/american-bar-association-renews-chicago-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"American Bar Association Renews Chicago Lease\" \/>\n<meta property=\"og:description\" content=\"A team of brokers from Savills Studley, led by Eric Feinberg and John Goodman, negotiated the lease expansion on behalf of the organization. The agreement includes tenant improvement concessions and lower rent expenses.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/american-bar-association-renews-chicago-lease\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-22T11:15:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T12:37:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/321-N.-Clark-St.-Chicago.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gabriel Circiog\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/\"},\"author\":{\"name\":\"Gabriel Circiog\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fea14f28ef4cea0e4f36b0516e632ebb\"},\"headline\":\"American Bar Association Renews Chicago Lease\",\"datePublished\":\"2018-03-22T11:15:26+00:00\",\"dateModified\":\"2022-12-08T12:37:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/\"},\"wordCount\":306,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/03\\\/321-N.-Clark-St.-Chicago.png\",\"keywords\":[\"Diversified Real Estate Capital\",\"Hines\",\"Savills Studley\"],\"articleSection\":[\"Brokerage\",\"Chicago\",\"Deals\",\"Midwest\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/\",\"name\":\"American Bar Association Renews Chicago Lease - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/03\\\/321-N.-Clark-St.-Chicago.png\",\"datePublished\":\"2018-03-22T11:15:26+00:00\",\"dateModified\":\"2022-12-08T12:37:12+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fea14f28ef4cea0e4f36b0516e632ebb\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/american-bar-association-renews-chicago-lease\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/03\\\/321-N.-Clark-St.-Chicago.png\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/03\\\/321-N.-Clark-St.-Chicago.png\",\"width\":800,\"height\":620,\"caption\":\"321 N. 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