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Tour book · Office, 150 seats
Six spaces,
one tour day
River North to LaSalle Street on one route. Everything you need on the day: the route, the times, every suite with a test fit, and what to check while you are standing in it.
6Spaces, 17.6K to 24.1K RSF
9:00to2:31Start to finish, lunch included
3.3 miDriven, plus one short walk
Prepared by
LARRABEETENANT ADVISORY
The day
Done by 2:31
Six stops in street order, from River North out to Fulton Market and south to LaSalle Street. The order follows the map, not a ranking.
↓12 min drive
↓11 min drive
↓10 min drive
↓9 min drive, then lunch near Union Station
↓6 min walk
Meet8:50 am in the Orleans Loft lobby
Getting aroundOne car for the group; drive times include five minutes to park
Check-inPhoto ID at stops 2, 3, 5 and 6
LunchTable booked near Union Station; stop 5 is fixed at 1:05 pm
HoverTap a pin for the suite and the time on site. Select a stop on the leftabove to fly to it.
Chicago office tourThe day
02 / 13Larrabee Tenant Advisory · Tour bookSample: client, broker, buildings and terms are fictional.
What we are solving for
One floor for 150 people
| Headcount | 120 today, 150 by year three |
| Size | 17,500 to 24,500 rentable square feet (RSF) on one floor, at 140 RSF a seat |
| Budget | $55.00 per RSF gross in year one, about $1.16M a year at 21,000 RSF |
| Commute | Most of the team rides Metra: a 10-minute walk or less from Ogilvie or Union Station |
| Move-in | Before the current River North lease ends in August 2027 |
| Must-haves | Six or more meeting rooms, a cafe that holds an all-hands, one floor |
26.8%Downtown direct vacancy, Q2 2026
$53.28Downtown Class A asking rent, gross
22.3%West Loop vacancy: busiest leasing, Q2
With a quarter of downtown space empty, landlords are holding asking rents and competing on allowances and free rent. That is where the room to negotiate is.
How the six measure up
Four tests, before we walk in
| Stop | Seats 150 | Under budget | Metra, 10 min | Ready by August 2027 |
| 1The Orleans Loft | ×141 seats | ✓$44.75 | ×15 min, Ogilvie | ✓Vacant now |
| 2Morgan Yards | ✓153 seats | ×$75.75 | ×13 min, Ogilvie | ✓Vacant now |
| 3Canal & Randolph Tower | ✓159 seats | ×$56.25 | ✓3 min, Ogilvie | TightMarch 2027 |
| 4Clinton Street Works | ×125 seats | ✓$40.50 | ✓2 min, Union Station | ✓Vacant now |
| 5Wacker & Monroe Center | ✓151 seats | ✓$53.75 | ✓5 min, Union Station | ✓Vacant now |
| 6The LaSalle Exchange | ✓172 seats | ✓$49.75 | ✓9 min, Union Station | ✓Vacant now |
Only Wacker & Monroe Center and The LaSalle Exchange pass all four on paper. The others are on the tour for something the paper cannot show: the Orleans and Clinton Street floors for their character and price, Morgan Yards as the benchmark for what a new building feels like, Canal & Randolph for the shortest walk to Ogilvie.
HoverTap a mark for the number behind it. Select a row to open that stop.
Chicago office tourThe brief
03 / 13Larrabee Tenant Advisory · Tour bookSample: client, broker, buildings and terms are fictional.
Side by side
All six side by side
All rents are per rentable square foot (RSF) per year. Gross rent is base rent plus real estate taxes and operating expenses (opex); taxes and opex are our 2027 estimates, to confirm with each landlord before a letter of intent (LOI). The TI allowance is what the landlord pays toward building out the suite.
| Submarket | River North | Fulton Market | West Loop | West Loop | West Loop | Central Loop |
| Built | 1911, renovated 2019 | 2024 | 2009 | 1924, renovated 2021 | 1990, lobby 2023 | 1924, renovated 2022 |
| Building | Brick and timber loft | Trophy | Class A | Class B+ loft | Class A | Class A |
| Suite | 4th floor, full floor | 9th floor, full floor | 14th floor, partial | 3rd floor, full floor | 22nd floor, partial | 11th floor, full floor |
| Size | 19,800 RSF | 21,450 RSF | 22,300 RSF | 17,600 RSF | 21,200 RSF | 24,100 RSF |
| Available | Vacant now | Vacant now | March 2027 | Vacant now | Vacant now | Vacant now |
| Base rent | $24.00 | $46.00 | $30.50 | $19.00 | $27.50 | $25.00 |
| Est. taxes | $9.25 | $13.50 | $12.00 | $9.00 | $12.25 | $11.50 |
| Est. opex | $11.50 | $16.25 | $13.75 | $12.50 | $14.00 | $13.25 |
| Gross, year 1 | $44.75 | $75.75 | $56.25 | $40.50 | $53.75 | $49.75 |
| Per month, year 1 | $73,838 | $135,403 | $104,531 | $59,400 | $94,958 | $99,915 |
| Free base rent | 8 months | 12 months | 11 months | 7 months | 10 months | 12 months |
| TI allowance | $80/RSF | $150/RSF | $120/RSF | $70/RSF | $15/RSF | $130/RSF |
| Walk to Metra | 15 min, Ogilvie | 13 min, Ogilvie | 3 min, Ogilvie | 2 min, Union Station | 5 min, Union Station | 9 min, Union Station |
| Nearest L | 3 min, Merchandise Mart (Brown, Purple) | 1 min, Morgan (Green, Pink) | 3 min, Clinton (Green, Pink) | 2 min, Clinton (Blue) | 4 min, Quincy (Brown, Orange, Pink, Purple) | 3 min, Quincy (Brown, Orange, Pink, Purple) |
| Seats in test fit | 141 | 153 | 159 | 125 | 151 | 172 |
Swipe the table to see all six
Chicago office tourSide by side
04 / 13Larrabee Tenant Advisory · Tour bookSample: client, broker, buildings and terms are fictional.
1
The suite
Built1911, renovated 2019
BuildingBrick and timber loft
Floors7
Ceiling12 ft to timber deck
ParkingGarage across the street, 1 per 2,000 SF
AmenitiesRoof deck, bike room
River North · N Orleans St, Kinzie to Hubbard
The Orleans Loft
On site9:00to9:40Property manager meets us in the lobby
The most character for the money, and close to the current River North office. Short on seats: 141 against 150.
| Suite | 4th floor, full floor |
| Size | 19,800 RSF |
| Available | Vacant now |
| Condition | Built out by a prior tenant: open loft, six glass rooms to keep |
| Views | South and west to the river |
| Transit | 15 min to Ogilvie, 3 min to Merchandise Mart (Brown, Purple) |
| Base rent | $24.00/RSF, up 3% a year |
| Est. taxes | $9.25/RSF |
| Est. opex | $11.50/RSF |
| Free base rent | 8 months |
| TI allowance | $80/RSF |
Gross, year 1$44.75/RSF
Per month, year 1$73,838
Floor plan and test fit141 seats: 11 offices, 130 workstations, 6 meeting rooms
This suiteOfficeWorkstationMeeting9 seats short of 150
- Clear height under the beams at the low point, not the 12 ft at the deck
- Whether all six glass rooms can stay as they are
- Sound between floors: timber deck, no concrete slab
- Cooling capacity for a fully seated loft floor
- Freight elevator size and booking for move-in
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Chicago office tourStop 1 of 6
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2
The suite
Built2024
BuildingTrophy
Floors16
Ceiling13 ft 6 in to slab
ParkingOn-site garage, 1 per 3,000 SF
AmenitiesTerrace, fitness center, tenant lounge
Fulton Market · N Morgan St, Lake to Randolph
Morgan Yards
On site9:52to10:32Leasing team on site, ID at the desk
The newest floor on the tour, with its own terrace. The benchmark for what a trophy building feels like, at the top of the range.
| Suite | 9th floor, full floor |
| Size | 21,450 RSF |
| Available | Vacant now |
| Condition | Shell: never built out, private terrace |
| Views | South and east to the skyline |
| Transit | 13 min to Ogilvie, 1 min to Morgan (Green, Pink) |
| Base rent | $46.00/RSF, up 3% a year |
| Est. taxes | $13.50/RSF |
| Est. opex | $16.25/RSF |
| Free base rent | 12 months |
| TI allowance | $150/RSF |
Gross, year 1$75.75/RSF
Per month, year 1$135,403
Floor plan and test fit153 seats: 6 offices, 147 workstations, 6 meeting rooms
This suiteOfficeWorkstationMeetingFits 150 with 3 to spare
- Terrace hours, and whether it is ours alone
- Heat and glare on the west glass in the afternoon
- Garage rate and how many monthly spaces we can hold
- The landlord's schedule for building out a shell floor
- The 13-minute walk to Ogilvie, in winter terms
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Chicago office tourStop 2 of 6
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3
The suite
Built2009
BuildingClass A
Floors31
Ceiling9 ft 6 in finished
ParkingOn-site garage, 1 per 2,500 SF
AmenitiesConference center, fitness, riverwalk
West Loop · N Canal St, Randolph to Lake
Canal & Randolph Tower
On site10:43to11:23Leasing rep on site; current tenant in place
Three minutes from Ogilvie and a short walk to the Clinton L. Slightly over budget, and the latest to deliver.
| Suite | 14th floor, partial |
| Size | 22,300 RSF |
| Available | March 2027 |
| Condition | Prior build-out removed, ceiling and lights in place |
| Views | River and both stations |
| Transit | 3 min to Ogilvie, 3 min to Clinton (Green, Pink) |
| Base rent | $30.50/RSF, up 3% a year |
| Est. taxes | $12.00/RSF |
| Est. opex | $13.75/RSF |
| Free base rent | 11 months |
| TI allowance | $120/RSF |
Gross, year 1$56.25/RSF
Per month, year 1$104,531
Floor plan and test fit159 seats: 10 offices, 149 workstations, 6 meeting rooms
This suiteOfficeWorkstationMeetingFits 150 with 9 to spare
- Firmness of the March 2027 delivery and the current tenant's holdover risk
- Column spacing next to the core where the board room would go
- Who the other tenant on 14 is, and the shared corridor
- Ceiling at 9 ft 6 in with the existing grid
- The covered route to Ogilvie on a bad-weather day
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Chicago office tourStop 3 of 6
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4
The suite
Built1924, renovated 2021
BuildingClass B+ loft
Floors6
Ceiling14 ft to trusses
ParkingSurface lot behind, 1 per 4,000 SF
AmenitiesBike room, shared roof terrace
West Loop · S Clinton St, Jackson to Van Buren
Clinton Street Works
On site11:33to12:13Key from property management, no escort
The lowest rent on the tour and two minutes from Union Station. At 125 seats it is too small for year three; the fourth-floor right of first offer is a contingency, not a plan.
| Suite | 3rd floor, full floor |
| Size | 17,600 RSF |
| Available | Vacant now |
| Condition | Raw renovated loft, one glass conference room |
| Views | East over Clinton Street, tall arched windows |
| Transit | 2 min to Union Station, 2 min to Clinton (Blue) |
| Base rent | $19.00/RSF, up 3% a year |
| Est. taxes | $9.00/RSF |
| Est. opex | $12.50/RSF |
| Free base rent | 7 months |
| TI allowance | $70/RSF |
Gross, year 1$40.50/RSF
Per month, year 1$59,400
Floor plan and test fit125 seats: 8 offices, 117 workstations, 6 meeting rooms
This suiteOfficeWorkstationMeeting25 seats short of 150; right of first offer on 6,000 RSF of the 4th floor
- The fourth-floor right of first offer: how firm, how long
- Train noise from the Union Station approach
- Restroom count for 125 to 150 people
- Cooling on hot afternoons in a 1924 building
- Lobby security and staffed hours
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Chicago office tourStop 4 of 6
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5
The suite
Built1990, lobby 2023
BuildingClass A
Floors40
Ceiling9 ft finished
ParkingGarage two doors north, 1 per 3,500 SF
AmenitiesTenant lounge, fitness, conference floor
West Loop · S Wacker Dr, Monroe to Adams
Wacker & Monroe Center
On site1:05to1:45Leasing rep on site from 1 pm
Built, furnished and ready, so almost no build-out cost. Just enough seats at 151.
| Suite | 22nd floor, partial |
| Size | 21,200 RSF |
| Available | Vacant now |
| Condition | Landlord-built spec suite, furnished and move-in ready |
| Views | West over the river |
| Transit | 5 min to Union Station, 4 min to Quincy (Brown, Orange, Pink, Purple) |
| Base rent | $27.50/RSF, up 3% a year |
| Est. taxes | $12.25/RSF |
| Est. opex | $14.00/RSF |
| Free base rent | 10 months |
| TI allowance | $15/RSF |
Gross, year 1$53.75/RSF
Per month, year 1$94,958
Floor plan and test fit151 seats: 13 offices, 138 workstations, 6 meeting rooms
This suiteOfficeWorkstationMeetingFits 150 with 1 to spare; our test fit, the existing layout to confirm on site
- Which furniture stays, and its condition
- Whether the spec layout seats 150 without rebuilding
- Elevator waits at 8:45 am
- Lobby and suite signage rights
- Who shares the floor
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Chicago office tourStop 5 of 6
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6
The suite
Built1924, renovated 2022
BuildingClass A
Floors21
Ceiling11 ft to deck
ParkingGarage one block west, 1 per 5,000 SF
AmenitiesClub floor, fitness, bike room
Central Loop · S LaSalle St, Monroe to Adams
The LaSalle Exchange
On site1:51to2:31Leasing rep meets us, ID at the desk
The largest floor and the lowest cost per seat of the spaces that hold 150. The trade-off is a 9-minute walk to Union Station.
| Suite | 11th floor, full floor |
| Size | 24,100 RSF |
| Available | Vacant now |
| Condition | Raw renovated floor, new windows and systems |
| Views | Up and down LaSalle |
| Transit | 9 min to Union Station, 3 min to Quincy (Brown, Orange, Pink, Purple) |
| Base rent | $25.00/RSF, up 3% a year |
| Est. taxes | $11.50/RSF |
| Est. opex | $13.25/RSF |
| Free base rent | 12 months |
| TI allowance | $130/RSF |
Gross, year 1$49.75/RSF
Per month, year 1$99,915
Floor plan and test fit172 seats: 14 offices, 158 workstations, 6 meeting rooms
This suiteOfficeWorkstationMeetingFits 150 with 22 to spare
- How much daylight the light court gives the inner desks
- Floor flatness after the renovation
- Riser and power for the server room
- The 9-minute walk to Union Station in winter
- Any historic-preservation limits on window or facade changes
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Chicago office tourStop 6 of 6
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Ten-year cost
The asking rent is not the price
Free rent, the allowance and the cost of building out change the order. A furnished spec suite needs almost nothing; a raw floor can need more than its allowance.
Rent, taxes and opex, after free rentBuild-out the allowance does not cover
HoverTap a bar for the full build-up. Spaces that seat fewer than 150 are shown lighter.
What it means
$79KTen-year cost per seat at The LaSalle Exchange: the lowest of the four spaces that hold 150
$106KBuild-out cost the allowance does not cover at Wacker & Monroe, the lowest on the tour. The suite is built and comes furnished.
$4.6MThe premium for Morgan Yards over the LaSalle Exchange across ten years
| Term | 10 years from move-in |
| Increases | Base rent, taxes and opex up 3% a year |
| Free rent | Base rent only, in year one |
| Build-out | Our estimate by condition, from $20/RSF (spec) to $175/RSF (shell) |
| Not included | Furniture, cabling and moving, at every stop |
Chicago office tourTen-year cost
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Scorecard
Score each stop on the spot
Rate each stop from 1 to 5 before you get back in the car. Tap a box to raise the score; the ranking updates as you go and stays on this device.
| Stop | Space and light | Layout fit | Building | Commute | Terms | Total | Rank |
| 1The Orleans Loft | |||||||
| 2Morgan Yards | |||||||
| 3Canal & Randolph Tower | |||||||
| 4Clinton Street Works | |||||||
| 5Wacker & Monroe Center | |||||||
| 6The LaSalle Exchange |
Printed, this page is a blank score sheet. 1 is poor, 5 is excellent; 25 is a perfect score.
Chicago office tourScorecard
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After the tour
From six spaces to one lease
Within 48 hoursDebrief
Compare scorecards and pick the two or three spaces worth a proposal.
Week 1Requests for proposal
We send an RFP to each landlord on the short list: rent, free rent, allowance, expansion rights.
Weeks 2 to 4Proposals and test fits
Landlords respond; their architects test-fit our program so the seat counts are real.
Weeks 5 to 8Letter of intent
We negotiate the best two against each other and settle terms in a letter of intent.
By January 2027Lease signed
Leaves about seven months to design, permit and build before August 2027.
Your team
Nolan BrekkePrincipal
312-555-0142
nolan@larrabee.example
312-555-0142
nolan@larrabee.example
Imogen SzaboAssociate
312-555-0157
imogen@larrabee.example
312-555-0157
imogen@larrabee.example
LARRABEETENANT ADVISORY
Buildings, suites and landlord terms in this tour book are illustrative. Taxes, operating expenses and build-out costs are estimates to be confirmed before any letter of intent.
Chicago office tourAfter the tour
13 / 13Larrabee Tenant Advisory · Tour bookSample: client, broker, buildings and terms are fictional.