Dinsmore Triples Space in Chicago New Location to Match Rapid Expansion
Dinsmore & Shohl LLP has moved to a new location in Chicago, to keep pace with the rapid expansion of that office. Dinsmore now occupies Suite 3850 in the Franklin Center at 227 West Monroe Street, more than tripling its square footage.
Dinsmore acquired the Chicago office in the Peck Shaffer & Williams merger in March. Since the spring, eight attorneys have joined the firm, putting the old location close to capacity. Office Managing Partner Robert “Bobby” Lucas quickly realized the only limitation on their growth potential was the square footage of their space.
“The Chicago legal market has a lot of mobility right now, and there are many incentives to joining Dinsmore,” said Lucas. “We offer clients quality services with the value that comes from being a Cincinnati based firm. That’s a big advantage that we can leverage, and attorneys are taking notice. My issue wasn’t attracting the top talent. It started to become, do we have enough offices for them.”
The West Monroe street location has close to 12,000 square feet of space, more than tripling the 3700 square feet of the previous office. Chicago Partner Gloria Materre focuses her practice on real estate. She says overall activity is picking up downtown but cautions there is still a long road to recovery.
“The market is slowly starting to rebound, but the economic downturn caused many companies to downsize, including law firms,” said Materre. “There has also been an increase in mergers among large firms, so you’re seeing a consolidation of space in the legal industry.”
A survey by Jones Lang LaSalle, a commercial real estate services company, shows mid-to-large sized law firms are consolidating space, reducing office square footage by 17 percent this year compared to 14 percent in 2013. By expanding to a larger office, Dinsmore is bucking the trend in the legal industry. Lucas says it all comes down to having a competitive edge in a tight market.
“Our goal is to utilize every resource available at Dinsmore to help our clients save time and do more,” said Lucas. “Pairing the value we provide with flexibility goes a long way to developing a partnership with our clients to grow their business.”
The new address for Dinsmore’s Chicago office is: 227 W. Monroe Street, Suite 3850, Chicago, IL 60606. All phone numbers and fax numbers remain the same.