BMO Harris Bank in talks to anchor new office tower near Union Station

The lease with Convexity Properties and Riverside Investment & Development could be for as much as 500K sf

Chicago /
Sep.September 11, 2018 09:00 AM

BMO Group CEO Darryl White and a rendering of the previous plan for Union Station (Credit: Riverside Investment and Development and BMO Harris)

BMO Harris Bank is in negotiations to anchor a new office tower next to Union Station.

The bank’s new U.S. headquarters could take up some 500,000 square feet in a new building proposed by Convexity Properties and Riverside Investment & Development, according to the Chicago Tribune.

The tower would replace a parking garage just south of the historic station on Canal Street. It is part of a larger redevelopment of the station and surrounding properties.

The developers gave a first peek at their plans for the station itself in June, unveiling a seven-story addition to the station, with the combined building housing a 330-key hotel, 404 apartments and street level retail.

But the steel-and-glass addition atop the regal station was widely panned, and the developers went back to the drawing board. They are set to unveil revised plans Tuesday night that call for adding a single floor to the existing building, increasing the number of hotel rooms to 400 and dropping the apartments, according to the Tribune.

They also will provide details on the 715-foot-tall proposed office tower with 1.5 million square feet of space atop 400 below-ground parking spaces.

BMO Harris now leases more than 800,000 square feet combined in three downtown buildings — at 115 South LaSalle Street, 111 West Monroe Street and 200 West Adams Street.

JLL’s Jeff Liljeberg and Steve Stratton are representing BMO Harris. [Chicago Tribune] — John O’Brien

 

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