Hall Prangle Inks Office Lease at 10 South Riverside Plaza

A Chicago trial defense firm is trading its longtime Wacker Drive home for a freshly upgraded riverfront complex, underscoring the ongoing flight to quality in the city’s rough office market.

Hall Prangle inked a long-term lease for about 29,000 square feet at 10 South Riverside Plaza, Crain’s first reported. Early next year, the law firm will move into the 21-story building’s 12th floor.

The deal marks a win for the property’s joint owners, Houston-based Hines and Canadian pension fund La Caisse. The landlords recently wrapped up a $75 million capital improvement project across 10 and 120 South Riverside, betting that modernized amenities would lure tenants back to the office.

Hall Prangle’s lease also offers a much-needed bright spot for La Caisse, which just took a massive hit elsewhere in the Loop. The pension fund is currently under contract to sell the 38-story tower at 180 North LaSalle Street to Menashe Properties for roughly $60 million — locking in a nearly 70 percent loss. It’s the second recent haircut for La Caisse, which also unloaded 125 South Wacker Drive to Menashe at a similarly steep discount late last year.

That wager is paying dividends. The upgrade offers hyper-efficient floor plates, allowing Hall Prangle to boost its Chicago attorney roster from 50 to 60 without actually expanding its overall presence, according to the outlet. Managing partner Jacob Goldstein noted the revamped space better aligns with the firm’s culture and collaborative needs.

Prior to this transaction, 10 South Riverside sat at about 82 percent leased, bolstered by a recent 60,000-square-foot deal with Interactive Brokers Group. CBRE’s Kelsey Scheive and Kelsey Morgan repped the landlords, while Cresa’s Michael Marrion and Jake Wright negotiated for the tenant.

Meanwhile, Hall Prangle is vacating 200 South Wacker Drive just as its new owners launch their own rehab. A joint venture of Glenstar and investor Patrick Halloran — who snagged the 40-story tower at the discounted price of $68 million in early 2025 — is currently pumping $30 million into lower-floor and amenity overhauls to combat a sluggish 66 percent occupancy rate.

— Sam Lounsberry