American Medical Association Announces Relocation of Chicago Headquarters to 330 N. Wabash
For immediate release:
Dec. 9, 2011
CHICAGO – The American Medical Association (AMA) announced today that it plans to relocate its Chicago headquarters to 330 N. Wabash in September 2013.
The announcement follows an extensive property search by AMA officials to evaluate future workspace options as its current lease at 515 N. State St. expires in August 2015. AMA officials explored several options, including renovating current workspace and even moving to a new development, but felt the move to 330 N. Wabash (former headquarters to IBM) offered the most attractive option.
“The AMA is an iconic organization, and we’re moving to an iconic building, which will provide a great working environment for our employees and the work we do on behalf of America’s physicians,” said James Madara, M.D., AMA’s executive vice president and chief executive officer. “It’s been a thorough and exhaustive process, and we feel this decision makes good sense economically and logistically. It will allow us to upgrade our work environment with minimal disruption to our current workflow and our employees’ commutes.” The new location is just two blocks from current AMA headquarters.
The building that will serve as the AMA’s new headquarters was designed by famed architect Mies van der Rohe and has been designated with landmark status by the city of Chicago. Completed in 1971, the building recently has undergone extensive renovations and is equipped with modern amenities to support AMA operations. AMA will occupy between 275,000 and 300,000 square feet in the 52-story building. Upon the AMA’s occupancy in 2013 the building will be renamed “AMA Plaza”.
“The building has landmark status, but with the recent renovations, it will feel very much like a brand new building,” Dr. Madara said. “We have an opportunity to design our new workspace in a manner that is responsive to our organizational needs and how our employees work. We are committed to providing our employees with an excellent environment at a reasonable cost, and we believe this move will achieve that goal. Chicago has been home to the AMA for more than a century, and we feel fortunate to be an integral part of a world-class city that offers so much, including a vibrant and thriving medical community. Today’s announcement underscores our commitment to Chicago, and our new headquarters will serve the AMA well for years to come.”
“We are pleased that AMA has decided to keep its headquarters in Chicago, and retain more than 1,000 jobs for the hard working residents of our city,” said Chicago Mayor Rahm Emanuel. “AMA has long been a part of the Chicago business community, conducting important work on behalf of its membership around the nation and benefiting from the best workforce in the nation. Now, a new generation of Chicagoans will be able to continue this great work in the future.”
The AMA has been headquartered in Chicago since 1902 and has approximately 1,100 Chicago-based employees. It has occupied its current headquarters since 1990. The AMA signed the new 15-year agreement with current property owner 330 N. Wabash Avenue, LLC. The property owner is a joint venture between subsidiaries of Prime Group Realty Trust (PGRT), a real estate investment trust headquartered in Chicago, and Five Mile Capital Partners LLC, a Connecticut-based commercial real estate and alternative investment firm. PGRT is the property manager and leasing agent for the property. The AMA was assisted in its search by Jones Lang LaSalle.
Robert J. Mills
American Medical Association