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wo companies, Enfusion and TeamWorking, are bucking the trend of shrinking office spaces in downtown Chicago by expanding their leases. Fintech firm Enfusion will increase its space at The National on South Clark Street from 13,000 to 28,000 square feet, while coworking provider TeamWorking will nearly double its space at The Civic Opera Building to 100,000 square feet. These deals come after for-profit education firm Adtalem and climate technology investment firm Energize Capital also expanded their office spaces in the city.

    Landlords 601W and CommerzReal are benefiting from these lease expansions, particularly as they own debt-free buildings that have given them an edge in the market since the pandemic. The National's first-floor food hall has been a major draw for new tenants, with landlord Eric Myers attributing its success to creating a positive energy in the area.

    The Civic Opera Building, however, is facing financial struggles despite its historic significance. A private appraisal valued the building at $119 million in 2024, down from $220 million in 2015 when it was purchased by 601W. The building's owner, 601W, is fighting a foreclosure lawsuit after tenants stopped paying rent or moved out during the pandemic, leaving over $195 million in debt and interest accumulated on the property's loan.