CHICAGO – Transwestern announces the Illinois Housing Development Authority (IHDA) signed a new, 72,645-square-foot lease at Michigan Plaza, 205 and 225 N. Michigan Ave., with a commencement date of October 1, 2026. Transwestern Agency Leasing Executive Vice President Mark Buth, Senior Vice President Kathleen Bertrand and Senior Vice President Steve Hennessy represented Michigan Plaza landlord Aegis Asset Management.
“My colleagues and I are excited to welcome the Illinois Housing Development Authority to Michigan Plaza,” said Buth. “In the current market, prospects like IHDA are drawn to stable properties in prime locations. Michigan Plaza also boasts vibrant amenities that attract and retain tenants.”
The nearly 2-million-square-foot complex is also managed by Transwestern, with Hennessy serving as General Manager. IHDA will occupy space in the 978,693-square-foot 225 N. Michigan Ave. building. According to Transwestern Research, this is the largest new lease in the East Loop submarket since the second quarter of 2023.
Prominently located on Michigan Avenue south of the Chicago River, amenities at Michigan Plaza include multiple tenant lounges, a state-of-the-art fitness center, and outdoor space. The second-floor lounge is connected to the East Plaza, an outdoor terrace with a bocce ball court and putting green. The third-floor lounge provides tenants with access to a modern kitchen and conferencing with space for up to 125 guests. Near Red and Blue Line train stations, Michigan Plaza tenants also have access to 350 parking spots, exclusive shuttle buses to prominent Metra stations and indoor bike storage.
IHDA was represented by Avison Young brokers Jeff Lindenmeyer, Chris O’Leary and Shannon Connerty Morris.
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About Transwestern
Transwestern is a preeminent, vertically integrated commercial real estate firm dedicated to serving investors, partners and clients through expertise in investment, development, brokerage and property management. We own, lease and operate $57 billion1 in assets and have completed or commenced development on more than $9 billion of real estate projects since 2012. Our experience spans diverse property types, including logistics, multifamily, retail, mixed-use, healthcare, office, data centers, hotel, and life sciences. Across 33 offices nationwide, our team is united by a culture that cultivates agility, mutual trust and high performance. Learn more at transwestern.com.
1Includes the Transwestern organization and RIA AUM as of June 30, 2025.
Media Contact:
Mason Johnson
(312) 558-3897
mason.johnson@transwestern.com
twmediarelations@transwestern.com
