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Chicago

Software Company flexes with expanded lease at 1 North Dearborn

ActiveCampaign will extend its footprint at the Beacon Capital Partners-owned building to 115K sf

1 North Dearborn (Credit: The Telos Group LLC)
1 North Dearborn (Credit: The Telos Group LLC)

A rapidly-growing marketing software firm will nearly double its footprint at the Beacon Capital Partners-owned building at 1 North Dearborn Street.

ActiveCampaign now has 115,000 square feet of space at the 17-story building, according to Crain’s. The firm just signed a lease for 50,000 square feet on the fourth floor, adding to the 65,000-square-foot fifth-floor space it occupied starting in 2017, according to the report.

The firm is now up to about 450 employees, having added 180 new workers last year alone. It subleased about 15,000 square feet of space from logistics firm FourKites to accommodate the new personnel.

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ActiveCampaign is now the second-largest tenant in the 940,000-square-foot building behind Chicago Public Schools, which has its headquarters there. The property owner signed another big tenant last year when floral company FTD relocated from suburban Downers Grove to take 50,000 square feet in the building.

Boston-based Beacon Capital Partners paid $203 million in 2015 to buy the building from a joint venture led by Joseph Chetrit, and it has since overhauled its lobby and parts of its exterior.

At an event held Wednesday to announce consulting firm Accenture’s expanded lease at 500 West Madison Street, Mayor Lori Lightfoot and Gov. J.B. Pritzker praised local tech firms for raising the city’s profile as an international business hub. [Crain’s] — Alex Nitkin

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