New York-based global advisory firm Duff & Phelps is moving its Chicago offices into a soon-to-be-completed, 47,000-square-foot space at Fulton Street Market in the West Loop.
Crain’s Chicago Business reports that the relocation from the firm's current location on South Wacker Drive is “a first-of-its-kind” defection from the Loop's from downtown corporate corridor. Duff & Phelps' new Chicago headquarters, a 17-story building at 167 N. Green St. in the meatpacking district, is expected to be ready to move into sometime late next year.
Duff & Phelps joins the likes of Google, McDonald's and Mondelez International in now calling the thriving West Loop home. McDonald's and Mondelez relocated from the suburbs while Google's new facility marks the company's first significant presence in Chicago.
“The new office will allow us to grow our valuation and corporate finance businesses and expand our other services related to good governance and digital solutions," Duff & Phelps Chief Operating Officer Brett Marschke said in a statement. "Importantly, this space will enhance collaboration among our colleagues and allow us to better serve our clients."
Founded in Chicago nearly a century ago, Duff & Phelps presently has 200 of its 3,500 global employees in the city. Chicago-based Shapack Partners and Focus have signed on to co-develop the 750,000-square-foot building along Lake Street between Green and Halsted streets.
All this is happening while Duff & Phelps is in the midst of a $4.2 billion sale to a pair of private equity firms after it was purchased for less than half of that just two years ago.
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