Combined Insurance Extends Downtown Chicago Lease

Savills Studley, the leading commercial real estate firm specializing in tenant representation, announced that it has negotiated a lease renewal on behalf of Combined Insurance Company of America at 111 East Wacker Drive, Illinois Center, in Downtown Chicago. With this transaction the tenant recommits its presence at 111 East Wacker and advances its plans to repurpose and cosmetically enhance Combined Insurance’s 103,629-square-foot footprint across three floors.

“Illinois Center continues to offer a vibrant location and slate of new amenities for our client,” said Savills Studley Executive Vice President and Chicago Region Co-Head Robert Sevim, who represented the tenant in this transaction with Savills Studley Managing Director Chris Tarzon. “Combined Insurance was able to secure a long term lease agreement that will support their plans for growth.”

Combined Insurance is a leading provider of individual supplemental accident, disability, health and life insurance products. A Chubb company, Combined Insurance relocated its downtown operation from the North Side to Illinois Center in 2010.

“This early renewal reinforces our client’s commitment to downtown and Illinois Center, where it is one of the largest tenants,” said Tarzon.

Combined Insurance relocated its headquarters from Glenview to new space at Chicago’s Triangle Plaza near O’Hare International Airport in April 2017.

Illinois Center was designed by renowned architect Ludwig Mies van der Rohe and features extensive amenities including a new outdoor Wi-Fi plaza, conferencing facility, fitness center, 500-car parking garage, retail concourse with more than 20 restaurants and pedway access to four hotels.

In addition to Sevim and Tarzon, Adam Southard of Savills Studley supported the tenant representation team in this transaction. Brad Despot, Monica Moore and Mark Georgas of JLL represented the landlord.