B
lue Owl Capital has expanded its Chicago office space by adding 27,000 square feet to its lease at 150 North Riverside Plaza. This move doubles the firm's local presence and follows a previous sublease of 27,000 square feet on the building's 37th floor from William Blair.
The expansion comes as Blue Owl continues to grow, driven by success in private credit lending and real estate investments. Notable deals include the $950 million acquisition of Oak Street Real Estate Capital in 2021 and the $200 million purchase of the Chicago Tribune Freedom Center in 2022. The firm's real estate holdings have grown from $12 billion to over $28 billion.
The lease expansion is a notable move, as many downtown landlords are struggling with declining office demand and record-high vacancies. Despite this trend, Riverside Investment & Development's tower at 150 North Riverside Plaza remains 98% leased.
