Kuriloff and Ilhardt of C&W represents Willis in 140,000 s/f lease

Cushman & Wakefield represented Willis Group Holdings in its lease of 140,000 s/f at the Sears Tower in an agreement with the building's owners that will also rename the building as the Willis Tower. Cushman & Wakefield brokerage professionals Josh Kuriloff, vice chairman, and Kent Ilhardt, executive VP, represented Willis in its site search and lease negotiations. Michael Kazmierczak, senior VP, U.S. equities, represented the ownership. "We are pleased to have helped arrange one of the most significant agreements in the history of Chicago real estate, to the satisfaction and benefit of all parties involved," said Kuriloff.   Ilhardt said, "Cushman & Wakefield has had a long history with Sears Tower having acted as project manager for its development and original leasing and management agent. While the building is older, its infrastructure meets or exceeds new construction in many categories. In addition, the highly efficient floor plates, excellent location and numerous amenities will all contribute to Willis' productivity at Willis Tower." Relocating to Willis Tower will be three current Willis HRH offices in the city, located at 10 South LaSalle St., One East Wacker Dr. and 222 North Riverside Plaza, along with two suburban locations - in Oak Brook and Lombard. The move is expected to be completed by late summer. The majority of Willis HRH Associates moving to Willis Tower work in the company's retail brokerage business, which is supported by Willis' key specialist capabilities in such areas as construction, executive risk, healthcare, property, real estate and employee benefits. Willis Tower also will be home to Willis Commercial, a business unit dedicated to serving the insurance needs of small and medium-sized enterprises. Willis Commercial utilizes the technology platform and capabilities of the company's InsuranceNoodle unit, a web-enabled wholesaler of commercial property and casualty products that Willis acquired in 2007. In addition, Willis' Innotech business, a high-tech service center for healthcare benefits clients, will be housed in the Willis Tower offices. The building, which first opened in 1973, is recognized worldwide as a center for business, and an architectural signature of the city's skyline. It is owned by 233 S. Wacker Dr. LLC, a real estate investment group formed in 2004 to purchase the tower. Ownership includes N.Y.C.-based partners Joseph Chetrit; and Joseph Moinian and Steve Bederman of The Moinian Group; and Yisroel Gluck and John Huston, of American Landmark Properties, Ltd., based in Skokie, Illinois. U.S. Equities Asset Management LLC, headquartered in Chicago, provides management and leasing services to the property.