December 2, 2014

Much Shelist represented lessors in two leases that earned spots on the prestigious Crain’s Chicago Business list of Largest Office Leases in Chicago in 2014. The agreements were named third and fourth out of 10 on the annual ranking.

Chicago Public Schools’ 207,383-square-foot lease, located at 1 N. Dearborn St, was ranked number three on the list. Much Shelist represented lessor Chetrit Group in the agreement, with MB Real Estate Services Inc. as lessor broker and Cushman & Wakefield Inc. as the tenant broker of the space. Law firm Seyfarth Shaw LLP’s 200,000-square-foot space, located at 233 S. Wacker Drive (Willis Tower), landed at number four on the list. Much Shelist represented lessor American Landmark Properties LTD, with U.S. Equities Reality LLC as lessor broker and Mohr Partners Inc. the tenant broker in the agreement. 

In the past year, Much Shelist’s total commercial leasing activity has surpassed one million square feet throughout the country. Highlights of other Much Shelist lease activity in 2014 include deals with Lettuce Entertain You Enterprises, Mariano’s grocery chain, and the Maxwell project in the South Loop, which includes Nordstrom Rack, Dick’s Sporting Goods, T.J. Maxx and Burlington Coat Factory.  

“Our ability to support the turnaround taking place in the real estate industry – especially on deals of this size and prominence, and both in Chicago and nationally – reflects the exceptional knowledge and experience our real estate attorneys have to offer,” said Harold S. Dembo, Co-Chair of the firm’s Real Estate practice group.

Indicating a strong pick-up in the commercial real estate market, the CBRE Group reported that 11.5 million square feet were under construction in Chicago at the end of the second quarter. Additionally, leasing in the central business district was up to 3.5 million square feet, (a 59 percent increase over first quarter), and downtown office vacancy rates were at their lowest in 5½ years (13.8 percent) in the third quarter. 

Much Shelist has one of the largest groups focused on real estate among midsize Chicago-based law firms. With 25 attorneys, the group represents both landlords and tenants in matters of all sizes and types, and in all areas of real estate, including retail, office, industrial and multi-family residential developments.

View the Top 10 list of Crain's largest leases in 2014.