KPMG Has Negotiated Lease at 300 North LaSalle

The accounting firm is planning a move that would significantly increase occupancy at the River North office tower.

Updated on Oct. 10, 2026 in Commercial

KPMG Has Negotiated Lease at 300 North LaSalle

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KPMG is negotiating a lease for 200,000 square feet of office space at 300 North LaSalle Street in Chicago. The move from the Aon Center would bring the occupancy of the 300 North LaSalle property to more than 90 percent.

Why it matters

Securing high-profile, publicly traded tenants strengthens a building's appraisal value and loan underwriting. Office owners in Chicago are increasingly focused on funding high-grade tenant improvements to attract major firms.

KPMG is seeking 200,000 square feet, down from its current 236,000 square feet at the Aon Center. The Irvine Company, which purchased 300 North LaSalle for $850 million in 2014, has recently invested $30 million in property upgrades.

The players

KPMG

This global accounting firm provides audit, tax, and advisory services to a wide range of corporate clients.

Irvine Company

Based in Newport Beach, California, this private real estate development company manages a vast portfolio of office, apartment, and retail properties.

CBRE

This is a commercial real estate services and investment firm that provides advisory and transaction services to property owners and tenants.

The details

KPMG is represented by Lisa Konieczka and Todd Lippman of CBRE, while the Irvine Company is represented by Maggie Brophy, Gregory Tait, and Jamion Hartley. The move follows departures from 300 North LaSalle by major tenants like Kirkland & Ellis and the Boston Consulting Group.

Irvine Company purchased 300 North LaSalle in 2014.
Irvine Company paid off $431 million in building debt in August 2024.
The report regarding the lease negotiations was published on October 9, 2026.
KPMG's current lease at the Aon Center is scheduled to expire in 2029.

Culture Shift

This move reflects the broader Chicago commercial real estate trend of firms abandoning older office spaces for recently upgraded, prime-location buildings. It positions the 300 North LaSalle tower as a preferred destination after the departures of several previous anchor tenants.

The shift of a major firm like KPMG significantly impacts local commercial real estate valuations and the long-term viability of office districts in River North. Tenants in the market for office space may observe tighter inventory at high-end properties as major firms consolidate into top-tier buildings.

The takeaway

Large tenants are increasingly using their bargaining power to secure space in upgraded buildings, leaving older assets to face potential vacancy struggles. Firms often prioritize high-grade tenant improvements when choosing new office locations in major metropolitan centers.