TTX signs long-term extension on Wacker Drive office tower

The railcar company will remain one of largest tenants in the 23-story building

TTX CEO Thomas Wells and the building
TTX CEO Thomas Wells and the building

TTX Company signed a 12-year extension on its 103,000-square-foot lease in the office tower run by LaSalle Investment Managment at 101 North Wacker Drive.

The deal keeps the railcar owner and manager as one of the 600,000-square-foot building’s biggest tenants, along with digital media company Conversant, which renewed in 2016.

Melissa Rubenstein and Kim Doyle of JLL represented the landlord in the lease deal, while CBRE’s Todd Lippman, Jim Whalen, Jon Milonas and Bill Sheehy represented TTX.

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JLL said the 38-year-old building, which is 23 stories, is in the middle of an overhaul. It will be finished next year and include an upgraded lobby, fitness center, bike room, along with a conference center and game room.

The building is across the street from the former site of GGP’s headquarters, where Riverside Investment & Development and Howard Hughes received a permit last week to build a 56-story office tower anchored by Bank of America.

One block south, 601W Companies is buying the 40-story tower at 1 South Wacker Drive from Manulife John Hancock for $310 million.

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