Sterling Bay has brought the retail component of 123 N. Wacker Drive to full occupancy, filling all ground-floor space at the mixed-use office tower in Chicago’s central business district.
The firm reported that every retail bay at the property is now committed, reflecting tenant interest in the building’s location and overall environment. The tower’s setting in Chicago’s core business hub appears to be supporting a blend of office, food and beverage, and financial services uses at street level.
Austin Lusson, Director of Leasing at Sterling Bay, noted that the company, working in concert with the ownership group, has focused on shaping a setting that appeals to both office tenants and the surrounding community. According to Lusson, the strategy centers on assembling a coordinated mix of office space, retail offerings and amenities with the goal of attracting people to the property and creating durable value.
The current retail lineup at 123 N. Wacker features several distinct concepts. ESPRESSO AND MILK is opening its second location in the building’s south retail space this fall, adding a coffee-focused offering to the ground-floor experience. Just Salad has leased the northwest retail space, bringing a fast-casual food option to the property.
Financial services firm First Independence Bank is taking the northeast retail space. In addition to its street-level presence, the bank is also leasing office space in the tower above, establishing a multi-level footprint within the building.
Sterling Bay has served as leasing, property and asset manager at 123 N. Wacker since 2024, according to the firm. That role encompasses marketing available space, overseeing day-to-day operations and implementing ownership’s strategy for the asset.
Beyond the fully leased retail component, Sterling Bay has also completed notable office leasing within the tower. The company has secured a long-term lease for the building’s penthouse with Transwestern. In a separate transaction, insurance distribution firm CRC Group has committed to the full 19th floor under a long-term agreement.
Together, the fully occupied retail storefronts and recent upper-floor office leases highlight how a curated tenant mix at 123 N. Wacker integrates food, banking and office users within a single downtown Chicago property.
