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updated: 7/30/2014 1:29 PM

Wintrust to lease space in Loop building

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  • Wintrust Financial Corp. said it has signed a long-term lease for space at 231 S. LaSalle St. in Chicago's Loop, where it plans to consolidate its downtown operations.

      Wintrust Financial Corp. said it has signed a long-term lease for space at 231 S. LaSalle St. in Chicago's Loop, where it plans to consolidate its downtown operations.
    Image courtesy Wintrust Financial Corp.

 
Daily Herald staff report

Rosemont-based Wintrust Financial Corp. has signed a long-term lease for space at an iconic building in the LaSalle Street financial district of Chicago's Loop.

The building will consolidate the company's Wintrust Commercial Banking operations and Wintrust Wealth Management operations in the Loop, as well as add a retail bank and mortgage office.

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"This building will allow for further collaboration amongst our commercial and retail bankers, financial advisers and home loan officers to ensure each customer gets the resources and service they've come to expect from Wintrust," said Wintrust President and CEO Edward Wehmer.

Terms of the lease were not announced.

Built in 1924, the building at 231 S. LaSalle St. is at the base of "the canyon" on the corner of LaSalle and Jackson, across from the Federal Reserve Bank and the Chicago Board of Trade. Formerly the Continental Illinois Bank building, it is considered one of the most recognizable buildings in the Loop and features a banking hall believed to be one of the largest of its kind.

Wehmer said the bank plans to move into the building in 2015.

"As we do with all of our community banks, we intend for our new building to be a focal point for the community in the heart of downtown Chicago. Once we occupy the building, we'll not only schedule bank events, we'll work with local community groups and nonprofits to hold events and seminars," Wehmer added.

The company, with assets of about $19 billion, owns 15 community bank subsidiaries with more than 120 locations throughout the suburbs and in Wisconsin, in addition to its commercial banking and wealth management operations.

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