http://www.chicagobusiness.com/cgi-bin/news.pl?id=33183
Trading firm expanding at Sears Tower
By: Todd J. Behme March 03, 2009
(Crain’s) — A trading firm has almost tripled its space at the Sears Tower, a much-needed boost for the landmark skyscraper, which recently lost its biggest tenant.
IMC Chicago is expanding by nearly 34,000 square feet, giving the firm the entire 43rd floor, or 52,286 square feet, according to U.S. Equities Asset Management, which leases and manages the building.
IMC extended its lease through March 2020 at the 110-story Sears Tower, 233 S. Wacker Drive, the release says. The firm, which currently has 18,390 square feet on the 46th floor, plans to move to the 43rd floor this spring.
“It was a competitive pricing structure,” Emir Al-Rawi, managing director of IMC Chicago, said of the decision to stay at Sears Tower.
The firm also wanted to be on one floor and likes the building’s infrastructure, Mr. Al-Rawi says.
He says the firm plans to build a better trading room in the new space that can accommodate more traders. He said the office has about 95 employees and that the he expects that to grow 30% to 35% this year.
IMC Chicago is owned by Amsterdam, Netherlands-based IMC Trading and is that company’s only U.S. office. IMC Chicago has increased its space several times in the Sears Tower after moving into the building in early January 2007 from its original office here at 440 S. LaSalle St.
Sears Tower’s biggest tenant, Ernst & Young U.S. LLP, has decided to move out of the building and into the new office building being developed by John Buck Co. at 155 N. Wacker Drive. Ernst & Young has a lease for 387,000 square feet that expires in 2012. The firm occupies about 237,000 square feet, subleasing the rest of the space to other tenants.
Jones Lang LaSalle Inc. represented IMC Chicago.