The Illinois Housing Development Authority (IHDA) has committed to a new 72,645-square-foot lease at Michigan Plaza, a two-building office complex at 205 and 225 N. Michigan Ave. IHDA will take space within the 978,693-square-foot tower at 225 N. Michigan Ave., adding a sizable government tenant to the multi-tenant property.
Transwestern announced the transaction, noting that its agency leasing team represented the landlord, Aegis Asset Management. Agency Leasing Executive Vice President Mark Buth, Senior Vice President Kathleen Bertrand, and Senior Vice President Steve Hennessy led the assignment on behalf of Aegis Asset Management. On the tenant side, Avison Young brokers Jeff Lindenmeyer, Chris O’Leary, and Shannon Connerty Morris represented IHDA in negotiating the lease.
Michigan Plaza is described as a nearly 2-million-square-foot office complex that is also managed by Transwestern. In addition to his leasing role, Steve Hennessy serves as General Manager of the property, reflecting Transwestern’s dual role in both property management and leasing for the complex.
The property is prominently situated on Michigan Avenue, just south of the Chicago River, placing it within a highly visible and accessible section of the city’s central business district. Tenants at Michigan Plaza have access to a range of on-site amenities, including multiple tenant lounges, a state-of-the-art fitness center, and outdoor space designed for informal meetings and tenant use.
The building’s third-floor lounge offers a modern kitchen and conferencing facilities, with capacity for events of up to 125 guests. These shared amenities support both day-to-day tenant needs and larger gatherings, enhancing the appeal of the complex for office users seeking flexible collaboration and meeting space.
