Iconic riverfront tower experiences significant occupancy increase as new amenities, leasing activity, and continued investment fuel optimism downtown.

CHICAGO (August 20, 2025) – Beacon Capital Partners has completed a planned $32 million renovation at 333 West Wacker Drive, marking a significant milestone for the Chicago office market and affirming the firm’s commitment to reinvesting in the city’s most iconic properties. Since acquiring the building in June 2024, Beacon has leased more than 205,000 RSF, increasing occupancy from 83% to 90% in just one year.

“Beacon made a strong commitment to this building and that commitment is paying off,” said Greg O’Neal, Managing Director at Beacon Capital Partners. “We believe in the city of Chicago and in the long-term value of well-located, amenity-rich office environments, and 333 W. Wacker is a perfect example of how strategic investment and thoughtful leasing can drive tangible success.”

Situated at the bend of the Chicago River, 333 W. Wacker is one of the city’s most recognizable buildings. The renovation, completed this month, introduces a new era of hospitality-driven office experiences. The upgrades include:

An entirely new ground-floor lobby with fresh interiors and grand arrival experience

A two-level fitness and wellness center featuring state-of-the-art equipment, private Peloton rooms, a salt cave, cryo lounge, and massage chairs

A rooftop tenant lounge and conference center with panoramic views, podcast studio, catering kitchen, and outdoor terrace

A renovated Goodwin’s deli and a new café & bar offering, featuring full-service breakfast, lunch, and cocktail menus

To meet continued demand, Beacon is already underway on three new fully furnished, high-end model suites totaling 30,000 RSF, set to deliver in November 2025.

“From the moment Beacon acquired 333 W. Wacker, they’ve executed with speed and vision,” said Jack O’Brien of The Telos Group, which oversees leasing and repositioning for the property. “The building has always been an architectural icon, but today, it’s a fully modern workplace, with best-in-class amenities and an ideal location that’s unbeatable for tenants and commuters alike.”

Recent leasing momentum reflects that success. Notable new tenants include JBT Corporation, Forvis Mazars, and Eclipse Business Capital, part of a wave of activity driven by market enthusiasm and tenant response to the new renovations. Additionally, lease expansions and extensions have been completed with FGMK, Kelley, Drye & Warren, and Teachers Retirement System of Illinois.

Beacon’s work at 333 W. Wacker adds to a broader trend of reinvestment across downtown Chicago. As return-to-office policies continue to gain traction, buildings like 333 W. Wacker—those that offer location, design, and experience—are leading the way in attracting top talent and long-term leases.

Hines is the Property Management firm, and The Telos Group provides leasing services for Beacon Capital at 333 W. Wacker.

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Media contact:

Maureen Richardson
mrichardson@riverinc.com
(914) 686-5599