CHICAGO — Tishman Speyer has secured lease renewals with Katten and Chubb at 525 West Monroe Street in Chicago’s West Loop. Law firm Katten was among the first companies to commit to the 25-story office building upon its completion in 1983. Katten will maintain its headquarters across 204,000 square feet. As part of the lease negotiation, Tishman Speyer will create two new outdoor terraces for Katten’s exclusive use.
Chubb, a publicly traded property and casualty insurance company, has been based at the office property for more than two decades. The firm signed a lease for 92,032 square feet and will consolidate its local workforce from three downtown Chicago offices into a newly designed space.
Tishman Speyer is finalizing a major renovation of 525 West Monroe, including a new outdoor plaza, entrances and lobby. Designed by Michaelis Boyd Associates and MDEAS, the hospitality-inspired lobby incorporates a variety of seating areas for gathering, working and dining.
Tishman Speyer is also introducing The Foyer, an all-day café concept created in partnership with Infuse Hospitality. The Foyer, which will include a bar and table service plus outdoor seating, will serve breakfast and lunch, grab-and-go offerings, craft coffee and curated cocktails to building occupants and the public. Building tenants also have access to Zo. Clubhouse, an amenity center and lounge that Tishman Speyer opened on the 23rd floor.
With the new lease signings, 525 West Monroe is now 83 percent leased. Other tenants include LinkedIn and Associated Bank. Todd Lippman, James Whalen and Kyle Kamin of CBRE represented Katten, while Lippman, Jon Milonas and Maura Flanagan of CBRE represented Chubb. Ellen May and Olivia Parker represented Tishman Speyer on an internal basis.