Newest Building Amenity to be Managed by Fitness Formula
CHICAGO, IL (February 24, 2014) – As part of a $25 million capital improvement campaign launched by new ownership when it purchased the property in 2012, the Chicago Board of Trade Building today unveils its newest amenity, a 10,000-square-foot, state-of-the-art fitness center. Fitness Formula will manage the club.
“One of our goals was to breathe new life into the property by adding modern amenities for our tenants,” said GlenStar Principal Michael Klein. “Fitness Formula is the premier owner and operator of high end health clubs in Chicago and an excellent fit for delivering the kind of experience our tenants want.”
Located on the second floor of the CBOT Building’s south lobby, the fitness center will offer members the latest LifeFitness cardiovascular equipment with personal viewing monitors as well as strength training, free weights, suspension training, Kaiser m3 spin bikes, massage therapy and selectorized equipment. Nationally certified personal trainers and group exercise program instructors will be on site.
Membership is open to tenants of the building for $49 a month. The facility will be staffed from 6:00 a.m. to 7:00 p.m while members will have 24/7 key tag access.
Fitness Formula, Chicagoland’s largest privately owned reciprocal usage provider of health, fitness and wellness facilities, is celebrating its 30th anniversary of enhancing the lives of members and guests by improving their overall health and well-being. Their newest club at the Chicago Board of Trade Building is the company’s 13th in the city.
“We are pleased to partner with the Chicago Board of Trade Building’s ownership team on this very unique opportunity,” said Fitness Formula Founder and CEO Gale Landers. “There is a natural synergy between our organizations – both have built strong foundations in a city with a population we are both committed to serving.”
The debut of the fitness center is just the latest in a long line of improvements that GlenStar Properties, LLC and partner USAA Real Estate Company have made at the property since its acquisition in 2012. To date the capital campaign has resulted in a sprawling new lobby, refreshed 12th floor atrium as well as a conference center complete with high-end video conferencing capabilities and fully staffed building concierge. And more is yet to come.
“We have had the unique opportunity to create an amenity rich office tower within an infrastructure rich property,” said Klein “We are thrilled to be a part of transforming one of the most iconic buildings in Chicago into a vibrant ecosystem of some of the most cutting edge businesses in the region.”
Established in 1984 by Founder and CEO Gale Landers, Fitness Formula Clubs owns and operates twelve upscale, mid and large size multi-use health, sports, fitness, and spa centers in the Chicago area. The company provides corporate wellness programs, health and nutrition education, signature group exercise programs, and numerous individual and group training initiatives. Each Chicagoland location is equipped with state-of-the-art cardio and weight training equipment, beautifully appointed locker rooms and spacious multi-purpose studios. Many of these facilities feature additional amenities including rock climbing walls, basketball courts, spas and indoor/outdoor pools. FFC is dedicated to supporting the local community and is recognized by the fitness industry for creating a distinct member experience.
About GlenStar Properties LLC
Founded in 2003 by three of Chicago’s leading real estate executives, GlenStar Properties LLC is a Chicago-based commercial real estate investment and development firm engaged in new development and property investment, leasing and management services. Today, with more than 5.1 millions square feet of notable properties in its portfolio, the company is recognized as one of the top providers of development and related commercial real estate services in the Chicago area. For more information go to www.glenstarproperties.com.
About USAA Real Estate Company
USAA Real Estate Company, with approximately $12 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.