Sterling Bay, a Chicago-based company, has been chosen as the leasing and management partner for 123 N. Wacker in the West Loop area. This Class A office and retail building spans 30 stories and covers 540,000 square feet of rentable space.
As part of their responsibilities, Sterling Bay will handle leasing, asset management, and property management for the building. The current ownership has recently invested $25 million into improving the property located at Wacker Drive and Randolph Street.
Currently at 58% occupancy rate, this building offers a unique opportunity with its multi-floor penthouse office that is connected to private outdoor space. Other amenities include a tenant lounge area, conference rooms,and fitness center.
According to Keating Crown , Managing Principal at Sterling Bay: “While we are primarily known as developers in our industry,the partnership with this property allows us to showcase our expertise in attracting top-notch tenants.This aligns perfectly with our business model.” He also added that due to its prime location near public transportation optionsand impressive amenities,the potential for growth is highfor123 N.Wacker’s repositioning efforts under their team’s guidance.
