Tishman Speyer hires JLL to sell Chicago office tower

Tishman Speyer has hired JLL to market 190 S. LaSalle in Chicago with a $280 million price tag, reported Crain’s Chicago Business.

Tishman Speyer paid $211 million for the 40-story building in 2013. The seller was CBRE Global Investors.

Three major drivers have propelled growth in the Chicago CBD’s office sector: technology firm growth, suburban to urban migration, and absorption from co-working providers, concluded Cushman & Wakefield.

Although no behemoth tech leases have been announced yet this year, substantial organic growth is occurring, including Upwork’s expansion from 12,000 square feet to 67,000 square feet, which took occupancy this quarter, and G2 Crowd’s 65,000-square-foot lease signed this quarter at 100 S. Wacker. Mondelez International was the latest major suburban tenant to sign in the CBD; the Fortune 500 company will anchor the 94,000-square-foot 905 W. Fulton delivering later this year. Co-working growt