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Amazon Expands Office Presence in Chicago Loop

| Commercial Real Estate News, Development, Office| Views: 502


The Franklin - 227 W. Adams St., Chicago (Yardi Matrix)

The Franklin – 227 W. Monroe St., Chicago (Yardi Matrix)

The Windy City recently celebrated the opening of Amazon’s expanded corporate base in the bustling Loop district. On Monday, July 1st, Mayor Rahm Emanuel joined representatives of the retail giant to mark the opening of the company’s newly expanded office at 227 W. Monroe St., just in time for Amazon Prime Day. The Monroe Street location is already home to more than 200 employees, with Amazon planning to double its Downtown Chicago footprint over the next year.

“Amazon is a global company that recognizes Chicago has the talent and transportation that can help it continue to thrive for years to come,” said the Mayor in a statement. “I want to thank Amazon for making its commitment to Chicago’s innovation ecosystem and look forward to working together as they continue to grow right here in the city of Chicago.”

Amazon first launched in Illinois back in 2015, and has since created thousands of full-time jobs in the area. The company intends to continue hiring, adding a total of 8,000 new full-time jobs in the state by 2018. Other Amazon locations in the area include the Amazon Books store in Southport, the Prime Now hub on Goose Island and the Amazon@UIC campus pick-up point.

The Franklin at 227 W. Monroe St. is owned and managed by Tishman Speyer and shares 70,000 square feet of retail space with 222 W. Adams St., per Yardi Matrix data. The 60-story, 1.6 million-square-foot high-rise was completed in 1989 and underwent cosmetic renovation in 2015. Tishman acquired the asset back in 2004, as part of a $832 million portfolio buy that included other retail and office properties in Chicago, San Francisco, Seattle, Manhattan, San Mateo, Calif., and Greenwich, Conn.

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