{"id":4716,"date":"2024-01-11T21:24:33","date_gmt":"2024-01-11T21:24:33","guid":{"rendered":"https:\/\/loopchicagodev.wpenginepowered.com\/ad-agency-havas-flies-river-north-coop-to-new-loop-office-space\/"},"modified":"2026-05-27T11:55:38","modified_gmt":"2026-05-27T11:55:38","slug":"ad-agency-havas-flies-river-north-coop-to-new-loop-office-space","status":"publish","type":"post","link":"https:\/\/loopchicago.com\/es\/chicago-loop-blog\/ad-agency-havas-flies-river-north-coop-to-new-loop-office-space\/","title":{"rendered":"Ad agency Havas flies River North coop to new Loop office space"},"content":{"rendered":"<p class=\"loop-intro wp-block-paragraph\">2 MIN READ \u2013 In a move that serves as a plus for the <a href=\"https:\/\/loopchicago.com\/es\/\">Loop<\/a>\u2019s office space occupancy, advertising firm Havas is moving to the recently redeveloped Marshall Field building from its previous approximately 92,000 square foot River North office.<\/p>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\"><em><a rel=\"noopener noreferrer\" href=\"https:\/\/www.chicagobusiness.com\/staff\/decker\/Danny-Ecker\" target=\"_blank\">Danny Ecker<\/a> explains the office move in a recent <a rel=\"noopener noreferrer\" href=\"https:\/\/www.chicagobusiness.com\/commercial-real-estate\/havas-moving-marshall-field-building-slashing-office-space?utm_source=breaking-news&amp;utm_medium=email&amp;utm_campaign=20240111&amp;utm_content=article1-image\" target=\"_blank\">Crain\u2019s<\/a> article:<\/em><\/p>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\">\u201cThe company confirmed it has signed a lease for about 33,000 square feet on the 11th floor at 24 E. Washington St.<\/p>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\">The sharp reduction in space is part of a trend that has shaken up the downtown office market since the beginning of the COVID-19 pandemic. Many companies embracing the advent of remote work have reaffirmed their need for workspace, but far less of it. The weakened demand has pushed the downtown office vacancy rate\u00a0<a rel=\"noopener noreferrer\" href=\"https:\/\/www.chicagobusiness.com\/commercial-real-estate\/downtown-office-vacancy-chicago-2023-record-high\" target=\"_blank\">to a record high<\/a>\u00a0and set off a wave of distress that has sapped some of the vitality of the city&#8217;s urban core.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large loop-image\"><img decoding=\"async\" src=\"https:\/\/loopchicago.com\/wp-content\/uploads\/2026\/05\/11__ResizedImageWzEzMjAsODgwXQ.1.23-Fall-Loop-photography-09-photo-credit-Gabi-Dressligne.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\">For Havas, the shifting balance of in-person and remote work \u2014 combined with a lease expiration approaching in October \u2014 pushed the company to hunt for new space rather than spending what it deemed would be a seven-figure investment to redesign the existing space with technology and rooms for virtual conferencing and other post-COVID needs.<\/p>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\">After touring buildings in several parts of downtown, Havas Chicago leadership landed on the historic Marshall Field building as a great combination of modern workspace and a vintage building that is well-suited to the creative work the agency does, said Havas Chicago Chief Creative Officer and President Myra Nussbaum.<\/p>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\">\u2018We can build our dream there,&#8221; said Nussbaum, who joined the company in 2021. &#8220;It fits us on so many levels\u2026Creative (people), when we work, we don&#8217;t necessarily want to be trapped at a desk. That was a huge appeal of this building,\u2019 Nussbaum said.<\/p>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\">Yet the company, which has about 330 Chicago-based employees, is keeping its options open to take more space as it gauges return-to-office trends. Nussbaum said Havas has a right of first refusal to take another 30,000-plus square feet on its floor.<\/p>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\">Havas&#8217; drastic space cutback is frustrating for many downtown office landlords. But the lease adds to a run of victories for Brookfield Properties, the developer that turned six floors above the Macy&#8217;s State Street flagship store into 650,000 square feet of offices just as the public health crisis was beginning \u2014 a difficult time to lease up space.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large loop-image\"><img decoding=\"async\" src=\"https:\/\/loopchicago.com\/wp-content\/uploads\/2026\/05\/LJC-24EWash_WEB6-1500__ResizedImageWzEzMjAsNzA5XQ.webp\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\">With a steady flow of companies signing on since then, the building is now close to 70% leased, according to a person familiar with the property. That&#8217;s just below the 76% average for downtown office buildings. Recent additions include specialty insurance firm\u00a0<a rel=\"noopener noreferrer\" href=\"https:\/\/www.chicagobusiness.com\/commercial-real-estate\/argo-group-moving-office-space-marshall-field-building\" target=\"_blank\">Argo Group,<\/a>\u00a0agribusiness giant\u00a0<a href=\"https:\/\/loopchicago.com\/es\/in-the-loop\/agribusiness-company-olam-international-signs-15-year-lease-at-marshall-field-building\/\">Olam International<\/a>, and third-party logistics company Spot.<\/p>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\">Havas, which is a subsidiary of Paris-based media conglomerate Vivendi, is best known as an advertising agency but also provides public relations and other marketing services.\u201d<\/p>\n\n\n\n<p class=\"lc-post-paragraph wp-block-paragraph\"><strong><a rel=\"noopener noreferrer\" href=\"https:\/\/www.chicagobusiness.com\/commercial-real-estate\/havas-moving-marshall-field-building-slashing-office-space?utm_source=breaking-news&amp;utm_medium=email&amp;utm_campaign=20240111&amp;utm_content=article1-image\" target=\"_blank\">Read the full article at Crain\u2019s Chicago Business.<\/a><\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>2 MIN READ \u2013 In a move that serves as a plus for the Loop\u2019s office space occupancy, advertising firm Havas is moving to the recently redeveloped Marshall Field building from its previous approximately 92,000 square foot River North office.<\/p>","protected":false},"author":7,"featured_media":3844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[58],"tags":[64,55,43],"class_list":["post-4716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loop-news","tag-economic-data","tag-get-around","tag-landmarks"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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