Codal Leased New Office at 200 South Wacker
The technology firm expanded its footprint by moving to the downtown Chicago office tower.
Updated on Sept. 24, 2026 in Commercial
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Codal has signed a new lease for 24,000 square feet of office space at 200 South Wacker Drive in Chicago. The company previously operated out of a 16,000-square-foot space at the Old Post Office.
Why it matters
The relocation aligns with the building's massive renovation project aimed at attracting new tenants. Codal selected the space to support its future growth as the office undergoes a $30 million modernization effort.
Codal leased 24,000 square feet at 200 South Wacker Drive, which features 761,775 square feet of total office space. The 41-story tower was purchased for $68 million in 2025.
The players
Codal
This is a technology firm that currently employs 50 people.
Glenstar
This is a real estate investment firm that purchased 200 South Wacker Drive.
Patrick Halloran
He is a real estate professional who partnered to purchase the 200 South Wacker Drive tower.
The details
Codal exercised an early termination option at its former Old Post Office location to secure the larger suite. Owners are investing $30 million into the building, with planned additions including an outdoor lounge and golf simulators.
Timeline
The building previously sold for a higher price in 2013.
Glenstar and Patrick Halloran purchased the tower in 2025.
Construction on building upgrades is slated for completion at the end of 2026.
Codal plans to more than double its headcount in the first half of 2027.
Culture Shift
This move highlights the flight-to-quality trend where firms move into upgraded assets to compete for talent. It demonstrates how modern amenities are being used to revitalize older office towers in the downtown core.
The renovation project aims to improve the work experience for tenants at 200 South Wacker Drive. For Codal employees, the move provides additional office space to accommodate planned workforce growth by 2027.
The takeaway
Companies are increasingly prioritizing high-quality office environments as they look to scale their operations. Renovated commercial spaces are becoming a key tool for landlords to stabilize property values and occupancy rates.
Further reading
For more information on the local market, visit Commercial.
Source note: This article includes information reported by The Real Deal New York.
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