353 North Clark for sale

(Above) Southeast corner of upper floors at 353 North Clark as seen from the roof of Marina City’s west tower last Thursday. (Below) Exterior lobby of 353 North Clark from across front driveway last November. (Click on either image to view larger version.)

June 6, 2010 – Less than a year after officially opening the building, Mesirow Financial is selling 353 North Clark.

Worth about $442 million when it opened on October 1, 2009, Mesirow is seeking $480 million to $495 million for the 1.2 million square foot office tower, according to the real estate newsletter Real Estate Alert.

Tenants include the law firm of Jenner & Block, renting 400,000 square feet, the 350-employee executive recruitment firm Spencer Stuart, renting 100,000 square feet on three and a half floors, IntercontinentalExchange, an operator of Internet-based marketplaces that trade over-the-counter energy and commodity contracts and other financial products, renting 23,400 square feet, and the diversified energy services company E. ON.

According to Real Estate Alert, Mesirow, which moved into lower floors last December, has decided to take additional space and occupy about half of the building, increasing the occupancy rate to about 95 percent.

The 44-story (above ground) tower on Kinzie Street between Clark and Dearborn is listed with the commercial real estate company Jones Lang Lasalle. According to that company’s web site, there is available space on floors 17-20, 22, 27, and 31-33. Annual rent is in the range of $25 to $28 per square foot.

353 North Clark features on-site dining and catering facilities, a health club for building tenants, 500-seat auditorium, concierge, underground parking, and shuttle service to various public transportation stations.

Although construction does not appear to have started, the building’s brochure promises “two sophisticated, white tablecloth restaurants.” In June 2008, it was announced that The Oceanaire Seafood Restaurant, a chain based in Minneapolis, will open its first location in Illinois at 353 North Clark. A company spokesperson in Minneapolis did not respond to a request for an update.

One of the architects of 353 North Clark is Dirk Lohan of Lohan Anderson LLC. Lohan’s grandfather, Mies van der Rohe, designed nearby 330 North Wabash and is widely regarded as a pioneer of modern architecture.