(CHICAGO) – Hines, the international real estate firm, announced today that Sidley Austin LLP, one of the nation’s largest law firms, has renewed its lease at One South Dearborn. Sidley initially moved into the newly built building in 2005. The 810,000-square-foot building was developed by Hines specifically for Sidley with custom features including a private café, conference center and fitness center.
“We have renewed our lease at One South Dearborn after conducting a thorough evaluation of our space needs,” said Larry Barden, Sidley Austin LLP Management Committee Chair. “Staying in this prime Chicago loop location makes sense for us from a business connectivity standpoint. With a few design renovations to leverage unused space for collaborative areas and maximize the amount of natural light, our modern, efficient workspace will allow us to continue to attract and retain talented professionals.”
Sidley was represented in the long-term renewal by Todd Lippman and James Whalen with CBRE. Greg Van Schaack with Hines represented building owner Olen Properties.
With 1,900 lawyers in 20 offices worldwide, Sidley has built a reputation as a premier legal adviser for global businesses and financial institutions. Its lawyers work to deliver compelling results for clients in all types of legal matters.
Olen Properties, headquartered in Newport Beach, California, with regional offices in Las Vegas and South Florida, owns over 100 developments, with 12,000 multifamily residences and over 6.2 million square feet of office and flex space. In addition to these core properties, Olen owns several marinas, restaurants, a golf course, and some 1,500 acres of improved and zoned single family subdivisions in California, Nevada and Florida. During the span of four decades, Olen has established itself as an industry leader, with the successful ability to adapt to evolving market conditions through its own entrepreneurial capital, out-of-the-box thinking, controlled growth and consistent hands-on management.
Hines is a privately owned global real estate investment firm founded in 1957 with locations in 192 cities in 20 countries. Hines has $93.2 billion of assets under management, including $47.9 billion for which Hines provides fiduciary investment management services, and $45.3 billion for which Hines provides third-party property-level services. Hines has 105 developments currently underway around the world, and historically, has developed, redeveloped or acquired 1,180 properties, totaling over 379 million square feet. The firm’s current property and asset management portfolio includes 483 properties, representing over 199 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world. Visit hines.com for more information.