Hines Breaks Ground on Striking 60-story Office Tower at 300 North LaSalle in Downtown Chicago
(CHICAGO, IL) – Hines, the international real estate firm, has broken ground on a new 60-story, 1.5 million-square-foot office tower in downtown Chicago at 300 North LaSalle, a prime development site situated on the north bank of the Chicago River. The project is scheduled for completion in early 2009. The anchor tenant is the law firm of Kirkland & Ellis, which has signed a lease for over 600,000 square feet, and will relocate its world headquarters comprised of 1,400 Chicago office employees to 300 North LaSalle from 200 E. Randolph Drive.
“Kirkland & Ellis is excited to be involved in a project that will redefine Chicago’s famous skyline,” said Kevin R. Evanich, a partner at Kirkland and a member of the firm’s Management Committee. “We look forward to seeing this project progress and creating a new world-class home for our firm.”
Established in Chicago in 1908, Kirkland & Ellis also has offices in San Francisco, London, Los Angeles, Munich, New York and Washington, D.C. At 300 North LaSalle, it will occupy 24 floors in the low-rise and mid-rise sections of the building leaving some 400,000 square feet of high-rise space available for additional leasing.With Class A high-rise office space in short supply in the downtown market, 300 North LaSalle is well-positioned to attract additional top-tier professional firms and companies to its tenant roster, according to Greg Van Schaack, a senior vice president at Hines’ Chicago regional office. “Design and building systems at 300 North LaSalle also will offer superior planning flexibility and cost efficiencies, which tenants today are increasingly keying on as a good long-term investment.”
Designed by the architectural firm Pickard Chilton, internationally recognized for its expertise in the design of corporate andprofessional office buildings, 300 North LaSalle will rise over 800 feet. Its facade will be clad in richly articulated glass and stainless steel, maximizing the introduction of daylight and minimizing solar gain. With 220 linear feet of frontage along the Chicago River, 300 North LaSalle’s outdoor plaza will feature a large waterfront café and significant seating areas. Other planned amenities include a three-level, 240-car parking garage, white tablecloth restaurant, fitness center, conference center, bank and sundry shop.
Jon Pickard, AIA, of Pickard Chilton notes, “Our design for 300 NorthLaSalle acknowledges the great tradition of the Chicago skyscraper while redefining it for the 21st century. It will be an elegant and sophisticated building, an appropriate headquarters for Kirkland & Ellis, a firm deeply rooted in Chicago history.”
The 300 North LaSalle development is the first downtown Chicago assignment for Pickard Chilton, which currently has projects in progress in Houston, Montreal, Shanghai and Kuala Lampur, Malaysia. Recently completed projects include 1180 Peachtree, the world headquarters for King & Spalding, in Atlanta for Hines, and the CalPERS headquarters complex in Sacramento. Prior tofounding Pickard Chilton, Jon Pickard was Senior Associate with Cesar Pelli & Associates and collaborated with Mr. Pelli on landmark projects including the Petronas Towers in Kuala Lampur.
Hines also announced that it has achieved LEED-CS Gold pre-certification for 300 North LaSalle from the U.S. Green Building Council, which establishes the building as a major sustainable design development. Hines’ most recent Chicago office development, One South Dearborn, was certified LEED-CS Silver for its green design features.
Kirkland & Ellis, which represents global clients incomplexrestructuring, corporate, litigation and intellectual property, signed on as the anchor tenant for 300 North LaSalle in 2005. It was represented in the strategic planning and site selection process by a team comprised of Steve Stratton and Jock Howland of The Staubach Company; the architectural firm of Skidmore Owings & Merrill; and The Rise Group, Chicago.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. With offices in 68 U.S. cities and 14 foreign countries, and controlled assets valued at approximately $13 billion, Hines is one of the largest real estate organizations in the world. Hines entered the Chicago real estate market in 1981 with the development of downtown’s Three First National Plaza. Its Chicago-area office portfolio currently exceeds eight million square feet of owned and managed properties. Access www.hines.com
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