American International Group Inc. (AIG) has signed a letter of intent to lease about 160,000 square feet of office space at 300 S. Riverside Plaza, a 1-million-square-foot building owned by Bank One Corp., sources said.
If negotiations lead to an agreement, the New York-based insurance giant would vacate about 160,000 square feet at 500 W. Madison St., also known as Citicorp Center, when its lease expires in May 2004. AIG is the second-largest tenant at the 1.4-million-square-foot building, which has a 15% vacancy rate.
At 300 S. Riverside, AIG would move into space now occupied by Dutch chemicals and paint company Akzo Nobel N.V., which is moving to another building, and Bank One, which is consolidating space within the building.
Was this article valuable?
Here are more articles you may enjoy.