I suppose this is long overdue, their current tower is like a sister tower to One Chase Manhattan Plaza - same era, quite old. Hopefully they buy the Thompson Center.
I can’t read the article due to paywall. Is this going to be new construction or are they just looking for 1 million square feet in an existing Chicago office building? It would be insane if JPMC built massive towers in 2 cities, but I don’t see that happening.
JPMorgan Chase is looking at development sites where it could lease as much as 1 million square feet in what could lead to one of the largest office leases in Chicago history. It also could mean changes for the bank’s well-known Loop office tower.
The banking giant, which owns and occupies the 60-story Chase Tower, recently toured several sites and listened to pitches from developers looking for an anchor tenant to kick off construction of a new skyscraper, according to people familiar with the search.
Chase occupies much of the 1.9 million-square-foot tower, but it also leases space to tenants including Exelon.
It’s possible Chase could remain in its namesake tower on Dearborn Street, as it has done after previous explorations of its options in Chicago.
But there are signs pointing to a deal this time around, amid increased attention to the quality of office space as companies call workers back from home after more than a year of COVID-19 precautions.
“We do not comment on rumors about specific properties,” Chase spokesman Brian Hanover said in an email. “As standard practice, we regularly assess all of our properties globally to stay up-to-date on local market trends.”
In Chicago, Chase is believed to be looking at a wide range of space for a potential lease, going as high as 1 million square feet.
Is JP Morgan still looking for a new headquarters in Chicago… or have they already found one?
It was a 98 floors large building in the discussion stood have myself no info about it found. So my guess is that this 971 feet large project from 2021 was a response to that.
Since the old building has a rounded height of 853 feet.
So basically they are looking to do the same thing in Chicago as they have done in New York, build a new, 21st-century office tower in the prime business district?
^^^^
Hoping to land an anchor tenant in the next year, the site was also rumored to be in the running for Chase Bank’s new Chicago headquarter as they look to leave their current icon for more updated digs.
Yes and? is not yet confirmed.
What are you talling about? You posted about 130 North Franklin, we have a thread for that.
"Hoping to land an anchor tenant in the next year, the site was also rumored to be in the running for Chase Bank’s new Chicago headquarter as they look to leave their current icon for more updated digs. "
if it is confirmed, it can be put together.
I think if JPMC were to stay in Chicago then I don’t think they are looking for a location near their current HQ. I rather suspect they are going to West Loop or River District (near the casino) or Lincoln Yards or Moodys.
According to insider information, Gate Way Towers (The78) was also under discussion, but nothing came of it.
If JPMC leaves Chicago? Lol. They’ve hired over 3000 people since Jan 2021 in Chicago and are the largest private employer in the city now from office perspective (i think). There is no “if they leave” …they’ve completely quietly doubled down on Chicago. A new Chicago tower is still in play as are a few other options that involve massive renovations. A new tower would be within reasonable walking distance to Metra and city train lines, by requirement. Going to the 78 was rejected for various reasons. It’s not going to go to near the casino. Itll either be in The Loop or West Loop (including the rumored Fulton Market site at Randolph and Halsted).
First, thanks for your info, and welcome here to us on the Yimby forum.
Very interesting, then 130 North Franklin would still be in the conversation. Could this project then become taller (900 feet) if necessary?
Exactly what project would that be in the West Fulton District (West Loop)?
Related recently purchased the building at 800 W Washington almost across from where the Equinox hotel is planned. They own the entire “block” between Randolph, Halsted, Washington, and the expressway which includes the B of A drive thru. Crains ran a story in the last month or so about this and people familiar with the plans say Related will transfer unused development rights across the street to the bigger site so they can build 1M+ sq ft of office space to lure JPMC.
As far as 130 N Franklin - why not? From a location standpoint it checks the boxes.
A new tower was being discussed still at minimum this summer. But its just 1 of a few potential options. The company is probably more serious than ever in Chicago about getting into a more modern space tho. Especially as its number of tech workers in Chicago has quietly expanded quite a lot.
Then this would be the link because you mentioned, it does not get more exciting. When I’m on I change the title to 800 W Washington.
https://www.chicagobusiness.com/commercial-real-estate/west-loop-property-sold-related-midwest
130 North Franklin can get taller, very nice, but other Topic.
800 W Washington isnt where the building would be. It would be at 725 W Randolph where the Equinox Hotel is/was planned. But again - this is just a rumor but certainly an exciting one.
Are the two cranes on the inner core? How did the derricks later grow with the structure of the steel skeleton? Were the individual parts lifted up individually and later reassembled?
Credit: File:Chicago Skyline in 1970 (4277651540).jpg - Wikimedia Commons
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