Trading Firms Adds Two Floors to Chicago Office

Chicago. South Loop. CC-BY-SA

23 December 2022 | Chicago, United States

A proprietary trading firm is adding to its office footprint in Chicago's Loop, bucking the post-pandemic trend of releasing downtown space back onto the market.

At the 39-story 425 S. Financial Place, Chicago Trading is going to expand its workspace by acquiring the building's seventh and eighth stories, for a total of five office floors including the three previously owned. The expansion gives Chicago Trading, the building's largest tenant, in the neighborhood of 160,000 square feet (14,864 square meters).

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Recent departures have left multiple buildings near Lasalle Street with massive vacancies, leaving retailers vulnerable to continued hard times as they lose foot traffic, so the move is promising for nearby landlords as well. Chicago Trading stated that, as workers began to return to the office regularly, they realized they needed the extra space and anticipated that the area would continue to rebound as the effects of the pandemic faded. Eighty percent of the firm's 600 employees are based in Chicago currently.

For more on this story, go to Crain's Chicago Business.