Barnes & Thornburg Bucks Trend, Inks 30% Bigger Lease in Chicago

Barnes & Thornburg has inked the largest law firm lease in Chicago this year, signing up for 96,000 square feet of space, a 30% increase from its previous footprint.

The Indianapolis-based firm now has more than 135 lawyers in the Windy City, making it the firm’s second-largest office. Barnes & Thornburg’s current space at One North Wacker will add a floor including a new conference room to accommodate further growth, the firm said in a statement.

The lease was the largest among Chicago law firms, according to real estate brokerage Savills, which led the negotiation for Barnes & Thornburg. Neal Gerber & Eisenberg, a local Chicago firm, signed a 90,000 square feet lease this year, and White & Case signed up for a new space totaling nearly 64,000 square feet.

Barnes & Thornburg brought in more than $690 million in revenue last year, making it the 73rd largest firm in the country by revenue, according to data from The American Lawyer. The firm had 740 lawyers last year, while its partners earned around $1.2 million on average.

The Chicago move marks a departure for the law firm leasing market, which has seen many of the largest offices target a shrinking footprint.

Nearly two-thirds of firms seeking leases between 50,000 and 100,000 square feet nationwide are looking to shrink their footprint, according to a May report from brokerage JLL.

Barnes & Thornburg is the first law firm occupying more than 75,000 square feet to expand its downtown Chicago space in the last two years, the firm said.

“Not only will this new lease extend our commitment to innovation and collaboration and help our attorneys provide the robust and sophisticated counsel needed to tackle such challenges, it will also deepen our footprint in a market critical to the firm’s long-term growth strategy,” Andrew Detherage, firm managing partner, said in a statement.