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Accreditation Council for Graduate Medical Education Signs 87K SF Lease at 401 N Michigan

The Accreditation Council for Graduate Medical Education announced it signed a 15-year lease at 401 N Michigan. ACGME will occupy 87k SF at the former Equitable building starting next April, according to CoStar. The group has 69.5k SF at its current home in at 515 N State. Beacon Capital Partners bought the 29-story tower for $138M in January and sold a 40% stake to Callahan Capital and Ivanhoe Cambridge in March. ACGME's upcoming move increases 515 N State's current 57% vacancy rate but the owners hope planned improvements to the building's lobby and office spaces will help entice new tenants to call the former American Medical Association HQ home. [CoStar]

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