Property Address
200 W. Madison Street
Chicago, IL 60606

Lindsay, Pickett & Postel, LLC (LPP) was occupying two separate offices in the same building. Seeking to consolidate to a single, high-class, high-rise space with east-facing views and abundant natural light, the client needed to sublease its existing spaces. Watch the video below to hear Managing Partner Christopher J. Pickett discuss working with the Azulay Team at Bradford Allen’s Tenant Representation Practice.

Initial Challenges

  • Lindsay, Pickett & Postel, a Chicago-based law firm, occupied separate spaces on two different floors within the same building, and their goal was to consolidate into a single office space while relocating to a higher-class property.
  • LPP had been told there were limited options and they should wait for their lease to expire.
  • Lack of quality law firm space available—BA’s original strategy was to capitalize on the soft market caused by the pandemic and uncover a recently built-out law firm space that was no longer needed. We quickly realized there was very little quality existing law firm space available under 10,000 square feet.
  • Aligning multiple transactions at the same time—Managing multiple timelines and interests with two subtenants and relocating to a new building required some creative thinking and disciplined project management.

BA Solutions

  • BA proactively marketed LPP’s office spaces for sublease and secured subtenants for both of the client’s spaces while simultaneously negotiating terms for a new office in a higher-class property that met the client’s specifications.
  • At the 11th hour, the new landlord backed out of the transaction. Our brokers quickly pivoted and leveraged information from another completed BA transaction in a nearby building to provide our client with an off-market opportunity which met their exact specifications.
  • Over several months, BA educated the client on transactions being completed in the market and presented alternative strategies that could still help the firm accomplish their qualitative, operational, and financial goals established at the onset of the assignment.
  • BA created marketing material outlining the specifications LPP was looking for, uncovering several unlisted office spaces that potentially met their specifications. Before discussing any office space with them, BA previewed every space in-person to ensure they met LPP’s requirements, saving them time by only touring spaces which fit their exact needs.
  • With the sublease transactions finalized and a new space identified for LPP’s next office, BA negotiated temporary, fully furnished office space for our client to use free of charge in their new building through 2022 in order to meet the timing requirements of the subtenants and allow for the construction of the new premises.

“At every step of the way, both Justin and Nathan were there with level-headed, worthwhile advice and guidance. They were able to see this deal through and make sure we closed on each one of these transactions.”

– Christopher J. Pickett
Managing Partner, LPP LLC

Proven Results

  • BA—during the Covid-19 pandemic—located a space that fit LPP’s specifications while navigating uncontrollable deal hurdles, leading to a timely solution for all parties involved.
  • Additionally, BA’s brokerage team achieved a healthy rental recovery for LPP while subleasing their original office space, substantially reducing their outstanding rental obligation and making the relocation financially feasible.
  • Sticking to a proven strategy and process is paramount to successfully completing any transaction. This is especially true when dealing with multiple timelines and objectives.
  • In the end, LPP moved from a mid-rise, Class B office building with two separate suites to a single-office, Class A high-rise space with brand-new furniture and finishes along with superior amenities as they look forward to welcoming their full firm back to the office.

Transform your own office space

As expert tenant representatives, we focus our strategy on the business objectives of our clients. Each service we provide is measured by how well it achieves or enhances client goals. Bradford Allen clients gain the knowledge necessary to quantify their real estate requirements, determine the positives and negatives of available options, and analyze the financial implications involved. To achieve similarly impactful results for your business, consider contacting our experienced brokers today.

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Chicago, IL
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Chicago, IL