600 West Chicago was originally built in 1908 and completely redeveloped in 2001 as a 1.5 million square foot mixed-use property. The property was reportedly 94% leased at the time of purchase with major tenants including Groupon, Wrigley, Fox Sports, Level 3, Japonais Restaurant and David Barton Gym.
For more news and information visit Blumberg Capital Partners.
Groupon, the online daily deal coupon website, is expanding its space in Chicago with a new lease at 303 E. Wacker Drive in Chicago's East Loop according to a CoStar report. Groupon currently occupies 46,115 square feet in the office tower but will now take on 196,189 square feet total. Groupon will pay the building owners, Franklin Street Properties Corp., $441,425 per month until its lease expires on May 31, 2012, according to a filing with the U.S. Securities and Exchange Commission.
Groupon plans to take three new spaces, including one on the first level of the complex's northern portion beneath the condominiums at 900 N. Kingsbury St., as well as on the third and seventh floors of 600 W. Chicago, to accommodate new growth. The spaces are expected to be ready in the next few months.
The company recently moved its 200-plus editorial team to a temporary location while awaiting completion of the expansion space at 600 W. Chicago. "Our intention is to move everybody back (to 600 W. Chicago)," a Groupon spokesman said. "It's definitely our preference that we'll all be in the same building."
For more news and information visit Blumberg Capital Partners.
