Irvine Company to invest nearly $30 million to modernize architectural icon 300 North LaSalle, creating dynamic new elevated experiences along the riverfront
Plans include entirely new lower level, with Riverwalk activation and indoor-outdoor amenities
Chicago, Ill. (February 28, 2023) – Irvine Company today unveiled a nearly $30 million reinvestment plan for 300 North LaSalle that further elevates the iconic 60-story riverfront tower, creating an exclusive hospitality-inspired experience for high profile, forward-looking companies seeking a modern workplace destination.
Plans call for an impressive three-story lobby modernization with premium finishes and digital media elements, upscale indoor-outdoor customer terrace connected to the Riverwalk, day to night dining experiences, inviting craft coffee bar and walk-up bar, high-end fitness studio, hospitality-level conference center and other one-of-a-kind experiences for customers and visitors. The reinvestment will leverage the beauty and vibrancy of the north bank of the Chicago River while maximizing the prestigious building’s landmark location and panoramic views.
The plans piqued the interest of leading private equity firm GTCR and legendary Chicago Cut Steakhouse. Both signed long-term lease extensions and expansions.
“As a firm with over 40 years of history in the Chicago investment industry, we are pleased to continue to call 300 North LaSalle our home going forward,” said Collin Roche, Managing Director and Co-CEO of GTCR. “Our space and its central location in the city have served us well in helping to foster collaboration and connection with our colleagues, our partners and our community. We are expanding our capabilities and having a larger footprint will provide us with the flexibility to create an ideal environment where our team members will have new ways to engage and come together as we grow.”
Chicago brokers expect strong continued demand for 300 North LaSalle.
“Irvine Company’s plans to transform 300 North LaSalle will keep it at the top of the list of coveted workplace destinations for forward-thinking companies looking to recruit and retain top talent and energize their workforce,” said Robert Sevim, President, Chicago Region of Savills. “Irvine Company provides its existing and future customers a compelling argument for the benefits of returning to the office.”
As long-term owners, Irvine Company, renowned for continual evolution, reinvestment and personalized service, once again is demonstrating its commitment to quality by creating elevated experiences that entice employees to work from the office. In 2018, Irvine Company took advantage of a once in a generation opportunity to reposition the Class A trophy tower at 71 South Wacker with a dramatic interior transformation. As a result, the company welcomed a modern array of customers across industries and sectors and is 94% leased. Company officials expressed strong optimism about the post-pandemic office market in Chicago and throughout its portfolio.
Irvine Company leased over 10 million square feet in the last year to more than 900 companies.
“We take immense pride in our track record of stewarding some of the finest real estate in the United States and creating places that bring people together to succeed,” said Jonathan Brinsden, group president, Irvine Company Commercial Properties. “300 North LaSalle, with its prestigious riverfront location and presence on the Chicago skyline, is the ideal home for companies wanting to provide an engaging workday experience for their employees. This major reinvestment will further elevate and transform the building for the future of work.”
The company’s plans include:
- Lobby. A reimagined arrival experience within the dramatic three-story lobby with new white oak and stone panels, contemporary furniture and lighting fixtures, additional media screens, new turnstiles, elevator cabs, and security desk and revitalized outdoor area. The elevated entry experience will guide the customers through a welcoming journey from the moment they step into the building.
- Coffee Bar. A lobby-level craft coffee bar will provide an energizing start to the workday and include coffee service, with plans to expand into food service.
- Riverfront Dining. This iconic riverfront destination will include an indoor-outdoor bar area and lounge overlooking the river, perfect for gatherings or company events.
- Fitness Center. The reinvestment includes new state-of-the art fitness equipment and a group class studio room.
- Conference Center. New hospitality-level conference center featuring flexible layout options and breakout rooms, all fully-equipped with seamless technology.
About Irvine Company Office
Irvine Company elevates the workplace by combining inspired design, exceptional quality, innovative solutions and experience-driven amenities. Renowned for continual evolution, reinvestment and personalized service, Irvine Company creates environments that cultivate collaboration, creativity and customer success. The company serves more than 3,000 customers in 50 million square feet of premier workplaces in Orange County, Los Angeles, Silicon Valley and San Diego, as well as iconic towers in Chicago and New York. Irvine Company leads the industry with a forward-looking mindset and commitment to creating thriving communities.