500 West Madison, Chicago, IL 60602
Accenture Tower, formerly 500 West Madison, is an iconic 40-story, 1.46-million square-foot tower located in Chicago’s West Loop. The building sits above Ogilvie Transportation Center, one of two main suburban train stations connecting the Chicago suburbs with downtown Chicago. Built in 1987, 500 West Madison is Chicago’s largest Class A, LEED Gold-certified building and features a distinct postmodern design. The Building Owner and Managers Association twice named it Building of the Year. The first two levels at Accenture Tower contain 64,289 square feet of retail space with 45 stores and restaurants. The second level connects directly to the Ogilvie rail station providing direct access to city trains, buses and expressways.
Accenture Tower is located in Chicago’s premier West Loop office submarket, home to the majority of the city’s newest Class A office developments. Driven by availability of developable land sites, proximity to public transportation and availability of multifamily housing, the West Loop is the epicenter of new development, adaptive reuse and urban renewal within Chicago’s central business district (CBD). Accenture Tower is arguably the most well located transit-oriented office building in the entire Chicago CBD. The property provides unmatched access to suburban trains, city trains, buses and expressways, which puts it at the nexus of Chicago’s transit network.
The Ogilvie Transportation Center adjoins Accenture Tower and serves as terminus for three Metra routes operated by Union Pacific. More than 106,000 commuters pass through the property each day to commute to and from the majority of Chicago’s most affluent suburban communities.
Investment at a Glance
Location: Chicago, IL
Property Type: Class A Office
Acquisition Date: December 16, 2013
Purchase Price: $425,000,000
No. of Buildings: 1
No. of Stories: 40
Square Footage: 1,457,724 SF
Year Built: 1987
Leased Percentage (at the time of Acquisition): 93%