The law firm will occupy three full floors totaling 105,827 square feet
CHICAGO (November 3, 2021) – Savills announces that it represented Taft, the 101st largest law firm in AmLaw rankings, on a multiyear lease extension and expansion. The law firm will add an adjoining floor at 111 East Wacker, bringing its total presence to 105,827 square feet. Taft is now one of the largest tenants at the Class A, 32-story office tower located in the East Loop neighborhood.
Taft has nearly 650 attorneys across offices in six states, plus the District of Columbia. Chicago is a dynamic regional hub for the law firm, and Taft has occupied the 27th and 28th floors and a portion of the 26th floor at 111 East Wacker for the past 15 years. Since 2014 when Taft entered the Chicago market through a strategic merger, the office has increased its attorney headcount by 68%. This growth has been fueled by taking a modern, progressive approach and by placing a high value on firm culture, with 67% of its executive leadership team comprised of women and persons of color.
Taft challenged Savills to identify a new occupancy solution for its Chicago office to accommodate its continued growth. Savills conducted a thorough marketplace evaluation and advised Taft on the opportunities to allow the firm to accomplish its long-term real estate goals. Taft decided the optimal solution was to remain at 111 East Wacker where it could seamlessly expand its footprint on the 26th floor and occupy three contiguous floorplates to create a more effective and efficient workplace. The generous-sized floorplates include floor-to-ceiling windows that provide open light and air and views of Lake Michigan and the Chicago River.
The favorable lease terms negotiated by Savills were operationally cost-effective and included a tenant improvement allowance for Taft to make significant upgrades that reflect its modern law firm brand. As part of the expansion, Taft plans to repurpose the 26th floor with a state-of-the-art conference center, reception area, and additional attorney and staff offices. Taft will also renovate its 27th and 28th floors and construct an additional internal staircase to connect all three floors.
“Taft is a trailblazer in the legal sector and its real estate decisions play a large role in its talent retention strategy,” said Savills Vice Chairman Robert Sevim, who represented Taft in lease negotiations. “The expansion allows Taft to immediately effectuate change and upgrade its space to provide a more productive office environment for its growing staff and service lines.”
“As we continue to attract top legal talent and enjoy strong growth in our practice areas, we turned to Savills to help guide us through the process of finding the right building for Taft. Robert Sevim and the Savills team took the time needed to fully understand our long-term space needs, along with the importance of advancing Taft’s brand as a modern, progressive law firm. Together, we found the right solution to offer a collaborative, highly functional workspace for our attorneys, staff, and clients,” said Cezar “Cid” Froelich, chairman of Taft’s Chicago office.
“As we look to the future, making the right long-term decision on office space was critical to our plans for future growth and modernizing our working environment. Our current location at 111 East Wacker, with the expansion and upgrades, will enhance our ability to provide exceptional client service and a working environment that promotes collaboration and innovative ideas. We are excited about Taft’s future and believe the renovated Chicago office will be integral to our success,” said Paul T. Jenson, partner-in-charge of Taft’s Chicago office.
Designed by world-renowned architect Mies van der Rohe, One Illinois Center at 111 East Wacker, owned by AmTrust Realty, is positioned at the nexus of the River North neighborhood and the Magnificent Mile. The lobby recently underwent a $25 million remodeling that added expansive outdoor space and enhanced the connection between its sibling building 233 North Michigan Avenue. The property is home to the Chicago Architecture Center on the ground floor and features two fitness centers, a three-story parking garage, an indoor walkway that connects to multiple hotels, and easy access to CTA trains. 111 East Wacker was represented by Matt Pistorio and Adam Pines of Madison Rose and Anne Holker of AmTrust Realty Corp.