The company owns the 36-floor building at 100 N. Riverside but only used about a dozen floors. Much of that space was empty before COVID, said a source familiar with its operations. Since then, the financial squeeze on the company that began with the second fatal crash of a 737 Max in 2019, has only gotten worse. The company said in 2020 it would reduce its real estate by 30%.
Boeing employs about 400 people in Chicago, roughly the same amount as it has during the 20 years since it moved here. The company said it would maintain a “significant” presence in Chicago.
”There are no major job relocations as a result of the announcement,” a spokesman said. “Current employees will continue to be based out of the building, though less office space will be required as telecommuting has enabled more flexible work options.”
The company didn’t say how it will dispose of office space at its former headquarters. But its decision comes when office vacancies downtown are at a record high rate of 21.2%. Boeing’s building is surrounded by relatively new office buildings, such as the Bank of America Tower.