Adams Street Partners has committed to a new headquarters lease at 120 South Riverside Plaza, relocating from its current base at One North Wacker. The private markets investment management firm signed a long-term agreement for approximately 46,000 square feet within the downtown Chicago office complex.
The firm is expected to take occupancy of its new space next summer, according to Savills, which announced the transaction. The relocation marks a notable headquarters move within Chicago’s central business district, shifting the firm from one major office tower to another.
The Savills team representing Adams Street Partners included Vice Chairman John Goodman, Vice Chairman Eric Feinberg, Corporate Managing Director Brandon Nasatir, and Managing Director Isabell Schwartz. They advised the tenant through site selection and lease negotiations for the new headquarters.
On the ownership side, the landlord, La Caisse, was represented by CBRE’s Kelsey Scheive in partnership with the Hines asset management team. The involvement of both global brokerage and asset management platforms underscores the institutional profile of the property and the tenant.
Adams Street Partners’ new headquarters will occupy the entire 20th floor and a portion of the 21st floor at 120 South Riverside Plaza. The office space will be configured across two contiguous levels, providing a combination of full-floor and partial-floor layouts for the firm.
The property at 10 & 120 South Riverside is an SOM-designed office complex totaling approximately 1.4 million square feet. Located in Chicago’s West Loop, the project is positioned within one of the city’s most active office submarkets, with direct access to the central business district and major transportation corridors.
Savills highlighted the long-standing relationship between the brokerage team and Adams Street Partners, noting that the firm has been a client for nearly 25 years. Against that backdrop, the selection of 120 South Riverside Plaza was framed as aligning with the tenant’s longer-term business objectives and space requirements.
The transaction adds a sizable headquarters commitment to the West Loop office inventory and reinforces the building’s appeal to institutional tenants seeking large floor plates and a centrally located, architect-designed asset. While financial terms of the lease were not disclosed, the deal reflects continued tenant demand for well-located, high-quality office space within Chicago’s core.
