Mesirow Financial - 353 North Clark
By Kathryn JonesThursday, 12 March 2009
Construction Today
© 2009 Construction Today. All rights reserved.
The overall market may have slowed from a leasing standpoint, but Mesirow Financial’s 353 North Clark development in Chicago “is in an excellent leasing position with over 80 percent occupancy,” Senior Vice President Vince Slivka says. In addition, “We have a number of high-potential prospects that we’re talking to who, in spite of the current economic conditions, are moving ahead with their consideration of the building.”
The $450 million project is set to be completed in October 2009, he adds – a significant achievement for the Chicago developer whose name is attached to city landmarks such as the AT&T Corporate Center, the USG Building, the Metcalf Federal Building and the University of Chicago Graduate School of Business Gleacher Center and Hyde Park Center.
Slivka credits Mesirow Financial’s success to a “good corporate philosophy” and “positive attitudes” among the firm’s real estate group employees. “I think what differentiates us from our competition is we’re not a cookie-cutter developer that specializes in a single building type,” he explains. “We have a record of doing Class-A commercial office work as well as multifamily residential and institutional developments.”
Sweet Home Chicago
353 North Clark has leased well because it provides “a higher level of service quality than what is found in most current office buildings in Chicago,” particularly in terms of amenities and security, Slivka notes. Mesirow Financial will reside as one of 353 North Clark’s three prime tenants, along with the internationally renowned law firm Jenner & Block and Spencer Stuart, one of the world’s leading executive search consulting firms.
The 45-story mixed-use tower encompasses 1.2 million square feet and utilizes a unitized glass and aluminum curtainwall system with floor-to-ceiling glass and no intermediate mullion or handrail to obstruct the views. Bovis Lend Lease, which serves as the general contractor on the project, began construction in September 2006.
The building structure was topped out in October 2008 and the curtainwall was completed in January. Tenant floor turnover began this month and will continue each month through April. “We’re looking for substantial completion in October 2009, and both Mesirow and Jenner will be fully moved in by mid-November,” Slivka says.
High-End Amenities
353 North Clark will feature office and retail space and underground parking for 225 vehicles. Ground floor retail on Kinzie Street will have two white tablecloth restaurants. Amenities include a premier health club, concierge services and an upscale, on-site dining and catering facility for tenants and their guests. In addition, Mesirow Financial plans to construct an auditorium that can accommodate up to 300 people.
Unique to this development, 353 North Clark offers four access points at Clark, Kinzie, Dearborn and Carroll streets, a private drive and motor court for convenience and traffic efficiency. The building’s 32-foot-high lobby will feature high-end materials such as blue pearl and barre grey granite with accents of fine gray and white marble, and stainless steel. “It also has a world-class storefront system consisting of nonreflective Shott Glass, which provides full environmental insulation without the reflections normally encountered with standard glass,” Slivka adds.
In addition, 353 North Clark will boast a state-of-the-art security system seamlessly integrated into the building’s infrastructure. This includes a 24/7, state-of-the-art centralized security system that offers unobtrusive, yet controlled entry into the main lobby and elevator lobbies, two reception/security check-ins, secure access points for each elevator bank and restricted elevator access to each floor available at all times.
Seeking LEED Status
353 North Clark has been pre-certified Silver under LEED-CS and will pursue final certification upon completion of the project. Developing a green office space was “important to the culture of Mesirow Financial and the other tenants in the building,” Slivka states. Green features include green roofs on the tower and low-rise bustle, a LEED-compliant exterior wall, a high-performance HVAC system, low-flow plumbing fixtures, stormwater retention and irrigation systems, and the use of recycled and regional materials.
There once was a time when obtaining LEED certification was a difficult and expensive challenge – but not anymore, Slivka says. “LEED offers several advantages for the design and construction team,” he points out.
“It provided credits for permit costs. It expedited the permit review process to save time. And the city assigned a dedicated project manager to work with the design and construction team throughout the permitting process.
“LEED is no longer the hassle that it was originally felt to be. Now, it’s common practice. The world has made a mental change to embrace green building rather than be skeptical about it. Energy-efficient, high-performance buildings have always been a criteria for Mesirow Financial – even before there was a LEED program.”