Law Firm Inks 230,000-SF Lease Agreement

CHICAGO-Global law firm Baker & McKenzie has inked a 16-year lease for 230,000 square feet. The company will occupy space in Health Care Service Corp.’s headquarters facility at 300 E. Randolph. The lease terms of the deal were not released.

“HCSC is pleased that such a firm with the reputation of Baker & McKenzie chose our building over other options in the marketplace,” says Andrew Pini, HCSC’s divisional senior vice president of corporate real estate and development. “Baker & McKenzie attorneys and professional staff will enjoy the building’s many amenities, ranging from its unparalleled views of the lakefront and Grant and Millennium Parks, to its proximity to major transportation routes and public transportation facilities.”

Bill Rogers and Steve Steinmeyer of Jones Lang LaSalle represented Baker & McKenzie. HCSC was represented in house.

Baker & McKenzie will be moving 700 employees from the current location at One Prudential Plaza, according to Rogers. HCSC recently completed a 24-floor expansion development project; allowing the law firm to occupy 7.5 floors in the new section. The choice to locate at 300 E. Randolph was the conclusion of a three-year search.

The lease was signed on Wednesday, but the offices will need to be renovated for the law firm’s needs. December 1, 2012 is the start date for the lease, although Rogers tells GlobeSt.com the company has the ability to move in up to 18 months early; an option they are likely to take.

Baker & McKenzie had signed a letter of intent in June 2008 for 300,000 square feet at 444 W. Lake St., but the deal fell through. The $500-million, 1.1-million-square-foot office building, a joint venture between Hines and Larry Levy, has yet to come out of the ground.