Uber Signed 10-Year Lease for Chicago Office Space

Uber has recently signed a 10-year lease for office space at the Old Post Office, with room for thousands of employees.

According to the Chicago Tribune, it will occupy 450,000 square feet, becoming the building’s largest tenant. The Tribune reported in May that the California-based technology company was negotiating a move to the post office site.

The deal is the largest office lease in downtown Chicago this year, and one of the largest in Chicago in recent years. Not including renewals or extensions of existing office spaces, Uber’s deal is the fifth-largest in the past five years.

Uber is set to start construction on its new space in The Old Post Office next spring. It is unclear how many employees will ultimately work there.

“Uber is excited to deepen its roots in Chicago,” company spokeswoman Kelley Quinn said in a statement. “The city continues to attract the top talent that Uber needs to continue to thrive, and we remain committed to working together to have a positive impact in the local community.”

The company’s finalized deal gives developer 601W Cos. an anchor for its ongoing $800 million-plus redevelopment of the 2.8 million-square-foot former post office on the Chicago River at 433 W. Van Buren St.

Uber’s lease is more than double the next largest space. Deerfield-based Walgreens in June 2018 announced plans to lease 200,000 square feet, saying it planned to move 1,800 suburban and downtown workers into the space.

Other signed tenants include Ferrara Candy, Home Chef, the Chicago Metropolitan Agency for Planning and ad firm AbelsonTaylor. The first tenants will start moving in later this year.

Uber’s Chicago office was already its second-largest outside of its San Francisco headquarters. Chicago is home to Uber Freight, the company’s fastest-growing business unit.

The Tribune reported in March that the company planned to hire hundreds of employees throughout the year for its freight unit, which connects truck drivers with shippers. Uber told the Tribune then that the company employed more than 1,000 people in Chicago.

Uber was looking for space where it could consolidate its Uber Freight workers in the city with others it employs for its Uber Ride and Uber Eats business. Read the full Chicago Tribune article.