The Real Deal Chicago

Madison Capital Funding expands with new Loop office lease

The local lender is moving from one Tishman Speyer building to another, and doubling its space
September 12, 2018 05:00PM

Madison Capital CEO Chris Taylor

Madison Capital Funding is moving its offices to another Loop building and doubling its space.

The Chicago lender to private-equity firms is leaving a 23,000-square-foot lease at the CME Center, 30 South Wacker Drive, for a 45,100-square-foot space at 227 West Monroe Street, according to Crain’s.

Both buildings are owned by New York-based Tishman Speyer.

Madison Capital is a unit of New York Life Insurance.

A second-quarter report from Colliers International found the Downtown office market is “stabilizing,” despite a surge in new inventory and increased tenant demand. Overall Downtown rents in the second quarter averaged $40.69 a square foot, led by the West Loop submarket at $44.45. The lowest average rent of any of the submarkets studied in the report was $33.43 a square foot in Fulton Market. [Crain’s] — John O’Brien