Investment firm will relocate to the top two floors of the Class A office tower situated in the West Loop submarket
CHICAGO (January 28, 2025) – Savills oversaw the real estate strategy and negotiation for a 52,000-square-foot Chicago office relocation on behalf of client, Neuberger Berman. The prestigious investment firm will move to the top two floors of 191 North Wacker in the West Loop submarket.
“Neuberger Berman, an employee-owned, private, independent firm, has a long history in Chicago, dating back as far as nearly 60 years with predecessor firms,” said Chicago region President Robert Sevim. “As Neuberger Berman has grown and evolved, this move allows for greater collaboration in the most modern workspace in the market. Near to public transportation in the West Loop, the building is a premier property.”
Sevim and Vice Chairman Jim Wenk oversaw lease negotiations for Neuberger Berman and were supported by Executive Managing Director Adam Southard.
“It is exceedingly rare to see top two floors of prime office space available in the West Loop and the top block of space is part of the original anchor tenant’s space in the building,” added Wenk. “This is a perfect match of tenant and landlord.”
Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $508 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership.
191 North Wacker is a 37-story office tower with over 730,000 square feet of rentable office space in the West Loop. The property offers outstanding views of the Chicago River from all floors, expansive parking options, and newly renovated fitness and conferencing facilities for tenants. Finally, the building has a direct connection to the CTA for easy access to all rapid transit lines including service to both O’Hare and Midway airports. The building was represented in lease negotiations by Eric Myers, Katie Steele and Kathleen Bertrand of Transwestern.