ABOC, the lender that operates as Amalgamated Bank of Chicago, is trading its long-time LaSalle Street address for fresh digs on Wacker. The bank has inked a roughly 12-year lease for about 40,000 square feet at the 23-story office tower at 101 N. Wacker Drive in the West Loop, a deal that will put a retail branch at street level with executive offices stacked above.
According to CoStar, the lease runs for about 12 years and spans roughly 40,000 square feet. CoStar notes the new address is planned to hold both a public-facing bank branch and senior leadership offices, and reports the move was first flagged by the Chicago Business Journal. The timing comes a little more than a decade after the bank relocated its headquarters to its current home on LaSalle Street.
Bank background and what it's moving
ABOC currently lists its headquarters at MapQuest, at 30 N. LaSalle Street. The bank says it adopted the streamlined "ABOC" branding in July 2024 as part of a broader digital-first strategy. The shift to 101 N. Wacker is being pitched as a tightening of the bank's downtown footprint, folding retail and executive functions into one compact setup. That mix of a sidewalk-accessible branch with upper-floor executive space is exactly the kind of layout landlords have been selling to finance tenants looking to upgrade their space without overextending on square footage.
The Wacker tower and its owner
101 N. Wacker Drive is a roughly 23-story, approximately 600,000-square-foot office building that has seen a round of lobby and amenity improvements in recent years, according to property listings. The building's leasing materials highlight a refreshed lobby, on-site fitness center and a tenant lounge aimed at headquarters-style users, per LoopNet. Industry reports show that LaSalle Investment Management acquired the property from Hines in 2014 and remains the current owner.
What this means for downtown leasing
The deal gives West Loop landlords another trophy to point to as they chase financial and professional-services tenants. Recent moves, including Transwestern's consolidation into penthouse space at 123 N. Wacker and earlier reporting on FINRA's interest in space at 101 N. Wacker, indicate that upgraded amenities and easy transit access are doing some of the heavy lifting in negotiations, according to industry coverage.
In a company statement carried by CoStar, ABOC said the Wacker address will house both its branch and executive offices. The report notes that neither the bank nor the building's managers have put a firm move-in date on the calendar yet. We will update this story as timing and buildout details are released.
