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Highlights
The Housing Authority of Cook County doubled its office lease at the distressed 10 South LaSalle Street tower, expanding from just under 23,000 square feet to nearly 47,000 square feet on the 30th and 31st floors.
The expansion goes against the office space-shedding trend in the central Loop, as nonprofit and government agencies are often attracted to distressed towers by the prospect of discounted rents.
The building's landlord, Feil Organization, is facing a $105 million foreclosure lawsuit, and the property's mortgage is categorized as a non-performing note, though one leasing agent suggested receivership provides beneficial oversight for landlords and tenants.