JLL is in preliminary discussions to relocate its global headquarters to Boeing‘s previous HQ at 100 N. Riverside Plaza.
Exterior of 100 N. Riverside Plaza in Chicago
The brokerage is mulling a lease on the upper floors of the 36-story, 776K SF tower, CoStar News first reported.
JLL is expected to take up a smaller footprint than the 202K SF it leases at the Aon Center, according to the outlet. The Aon Center returned to special servicing earlier this year after the borrower, 601W Cos., failed to make a required payment for tenant improvements and leasing commissions.
Discussions about the move are still in the early stages, and the company is also evaluating alternatives.
Some of JLL’s competitors have relocated in recent months. CBRE moved into a 55K SF office at 300 N. LaSalle St. at the end of December, and Newmark inked a deal for space at Salesforce Tower last August.
Hines and the Stahl Organization partnered to purchase Boeing’s leasehold interest in the building for $22M late last year. Stahl already owned the ground lease on the building, with a 99-year agreement that runs until 2084.
Boeing signed a 15-year lease on the building in 2001 after relocating its headquarters from Seattle, and the aerospace company bought the tower for $165.2M in 2005.
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