A law firm's planned move to a 50-story Loop office tower continues an industry trend of reduced office sizes.Cyberspace does have consequences.
Arnstein & Lehr plans to move next year to about 65,000 square feet at 161 N. Clark St., said Managing Partner Michael Gesas. Arnstein & Lehr currently leases about 100,000 square feet at 120 S. Riverside Plaza in the West Loop, the firm's home since 1990, Gesas said.
Most of the space Arnstein is taking at 161 N. Clark will be subleased from Polsinelli. That law firm plans to move in February to a 53-story office tower in the late stages of construction at 150 N. Riverside Plaza along the Chicago River.
Arnstein & Lehr is following a law industry trend of cutting costs by reducing real estate. Many firms are moving toward smaller individual offices and eliminating libraries and records that can now be stored electronically.
"We decided to make the move because we're in space that, for the purposes of our firm, is antiquated," Gesas said. "The plus is we won't have the oversized equity partner offices that we have here (at 120 S. Riverside).
“My office is like a castle. It's ridiculous.”
Monday, August 22, 2016
Crain's Chicago Business reports:
Posted by Steve Bartin at 1:25 PM