Capital One Takes Peek in Chicago’s Office Space Wallet

CHICAGO—Capital One Financial Corp. has announced it will take 65,000 sq. ft. in the downtown for a new office.

The company will sublease space in the former headquarters of United Airlines at 77 West Wacker Drive, a building owned by State Teachers Retirement System of Ohio. The company will have about 350 employees there to operate its U.S. card business, and plans to occupy the new offices a year from now.

The financial firm currently has about 1,000 employees already working in Chicago, and operates similar offices in McLean and Richmond, Va. The majority of associates at the downtown location will relocate from other sites across the Chicago suburbs, the company said in a statement.

“Since our acquisition of the HSBC U.S. credit card business last May, we have been working hard to determine the best footprint for our business and we’ve found that Illinois understands and appreciates the critical importance of a strong financial services industry,” said Ian Cunningham, managing vice president at Capital One U.S. Card, in the statement.. “Chicago is a dynamic city and the space downtown is a perfect fit for our needs. It is a great location that provides us with access to all the resources that the city has to offer – transportation and an experienced and an incredibly talented workforce.”

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