CHICAGO--(BUSINESS WIRE)--CIM Group announced today the signing of a 114,000-square-foot lease renewal and expansion with Chicago Trading Company (“CTC”) at 425 S Financial Place at Gateway Plaza, the 39-story, approximately 1.04 million-square-foot office complex, formerly known as 440 S LaSalle located at Congress Parkway between S Financial Place and S LaSalle Street at the south end of Chicago’s business and financial district. Founded in 1995, CTC is a highly innovative and analytical, team-oriented proprietary trading firm that employs a dynamic, disciplined approach to trading across a variety of products and strategies.
CIM is applying its vast experience in commercial property ownership, development and operations to re-imagine this signature Chicago property. Currently, exterior property renovations are underway that will reposition, refresh, and rebrand the property, which it acquired in June 2016. Built in 1984, 425 S Financial Place is comprised of an approximately 954,000-square-foot tower and an 83,000-square-foot annex overlooking Congress Parkway, a landscaped 45,000-square-foot outdoor plaza with seating, a 5,000-square-foot retail building, and a 325-car underground parking garage.
Chicago Trading Company will remain in its current space in the annex and the entire fourth and fifth floors of the tower, and expand to occupy the sixth floor, an addition of approximately 27,000 square feet. In addition, Taureaux Tavern, Bar and Brasserie, a French restaurant will open later this year occupying the entire retail building located on the southwest corner of S Financial Place and W Van Buren Street.
The building’s new identity as 425 S Financial Place at Gateway Plaza, reflects the relocation of the front entry from S LaSalle Street to S Financial Place to allow a larger arrival area that more easily accommodates passenger drop off with a new lane to remove vehicles from traffic. CIM’s exterior renovations also include a landscaping program for the building’s prominent public plaza, additional lounge and table seating, and a modern and inviting look for the entry doors and lobby that create a more welcoming arrival experience for tenants and visitors. The alterations will be completed this summer.
Interior renovations to the property were completed in 2015, which included the addition of a 25,000-square-foot tenant amenity space occupying the building’s third floor. The contemporarily designed, spacious gathering spot offers tenants an upscale urban cafeteria, conference centers, and a terrace lounge with a variety of seating options for informal meetings or breaks with WiFi connectivity, an expansive outdoor deck and indoor fireplace. Also on the third floor is the Buckingham Club, a private social and athletic club with a state-of-the-art fitness center, lap pool, golf driving range, basketball and racquetball courts, and members-only restaurant and cocktail lounge. Additionally, the Buckingham Hotel is located on the 40th floor and includes 21 oversized hotel rooms. The acclaimed and Michelin-rated French restaurant Everest is located on the 40th floor, providing tenants and patrons with an exclusive dining option and stunning views of Lake Michigan, Downtown, and the South and West Loops.
Ideally located in the Central Loop, 425 S Financial Place is close to many public transportation lines. At the building’s south entrance is the LaSalle Metra station and adjacent to the property are the elevated and subway CTA lines providing easy access to O’Hare and Midway Airports. In addition, it is located at the end the I-290/Eisenhower Expressway, offering convenient access for tenants and visitors travelling from the suburbs.
CIM is a community-focused real estate and infrastructure owner, operator, and lender and identified Chicago as possessing the attributes that fit its strategy and focus on established and emerging urban areas with solid infrastructure and transportation networks where CIM can create value in the assets, benefitting the community. In addition to 425 S Financial Place, CIM’s portfolio of Chicago properties include Tribune Tower; Block Thirty Seven, the 275,000-square-foot 5-level retail center in Chicago’s Loop; Marquee at Block 37, the 34-story, 690-unit residential apartment tower; 625 N. Michigan office building; the apartment tower at 1001 South State Street; 237 and 1643 North Milwaukee mixed-used properties; 1326 S. State Street apartment development; and 1550 On the Park residential condominium development.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $56 billion of projects in communities across the Americas on behalf of its own account and its partners, co-investors and shareholders. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and asset management experience in urban real assets, net-lease assets and other associated credit strategies. CIM’s disciplined approach and extensive in-house expertise creates value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.