Dearborn Plaza

Description:

River North's unparalleled setting -- with Ohio and Ontario Streets funneling traffic to and from the Kennedy Expressway through the heart of the neighborhood -- makes it a choice location for blue-chip corporate offices.  Ironically, new office development in this prime market had experienced a 10-year hiatus, translating to an exceptionally low vacancy rate.  The Alter Group's Dearborn Plaza came on the market at the right time with the high-tech infrastructure and desirable location to satisfy emerging River North's pent-up demand for Class A space. 

The Alter Group aggressively pursued a lead tenant for the building early in the development process, and secured the 215-bed Amalfi Hotel, which affirmed the building's viability and success.  We purchased and demolished an adjacent building to increase the floor-plate size to better accommodate the hotel use just prior to the groundbreaking.  Additionally, we drew attention to the hotel's unique character by creating a separate identity, entrance and elevators that effectively separate its traffic from other building tenants.  Dearborn Plaza's lease-up to a mix of high-tech and traditional companies coincided with building completion, surpassing even our most aggressive schedule. 

Dearborn Plaza's high-tech infrastructure supports the most cutting-edge companies' present and future telecommunications, electrical and HVAC requirements.  Built-up mechanicals heat, cool, exhaust and ventilate, while excess condenser water system capacity provides chilled water to supplement Dearborn Plaza's cooling needs.  State-of-the-art DDC controls, combined with a sophisticated building management system, allows control over multiple zones.

Contact Information:

John Dempsey
CB Richard Ellis
312.861.7845
bob.gillespie@cbre.com