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Bradford Allen Completes Three New Lease Transactions at 1006 S. Michigan

Chicago, IL – Bradford Allen is pleased to announce that Matt Wright, Associate Broker at the firm, has completed three lease transactions at The Lightner Building, 1006 S. Michigan Avenue in Chicago.

1006 S. Michigan is a 62,000 square foot brick and timber loft building in the South Loop. Bradford Allen was hired by ownership, JK Equities, OAKS Capital and Time Equities, Inc as the exclusive leasing agent for the property in late 2015 and has brought the building’s occupancy to 92.5%. Ownership has renovated the property including replacing the entryway doors, cosmetic upgrades to the lobby, and updating the security systems. Ownership acquired the building in concurrence with their planned 832ft Helmut Jahn designed, ¬¬¬¬condominium tower at 1000 S. Michigan Ave.

Wright successfully negotiated a ten-year lease with Corvita Health and Associates for 5,200 square feet on the 5th floor. Their first office in the Loop; Corvita will occupy the space in conjunction with their founder, Dr. Martin Burke who will run his cardiology practice. “The tenant loved the loft-feel and convenient location,” said Wright.

In addition, Wright also completed a new 3,000 square feet lease with BatesMeron Sweet Design, a full-service marketing, and branding agency, on the 6th floor; Diana Himmelstein of Tenant Advisory Group represented BatesMeron. They relocated from River North, “We hope that stretch of Michigan soon rivals that of the blocks to the North of it and we’ve made an 11-year commitment to ensure we get to enjoy that development for a long time” Said Becka Bates, President of BatesMeron Sweet Design.

Also, Roots of integrity, a Pilates and yoga training facility signed a new lease for 776 square feet, ownership hopes their addition will be viewed as an amenity in itself.

“Given the boom in multifamily construction in the area, we have experienced a spike in activity from potential tenants that have employees living in the area as well as service based companies who often bring clients into their space, such as insurance firms, CPAs, fitness groups, for example.” Said Wright “Furthermore, we have seen quite a few creative and tech groups interested in the building due to the rising prices of similar loft office buildings in River North and the lack of ready supply in Fulton Market.”