Outcome Health has backed out of a 394,000-square-foot, River North lease that was suppose to house the company’s headquarters. Just a few months ago, the healthcare tech company was a Chicago tech darling but now faces serious allegations that it misled investors and advertisers.
The company’s lease at 515 North State Street was ended, which also zapped the 2,000 jobs that were expected, according to the news first reported by Crain’s on Thursday. Outcome Health’s absence leaves building owners with a huge amount of space—only 31 percent of the building is filled now.
Outcome Health was also expected to name the building, currently referred to as Five One Five. Renderings for the Gensler-designed headquarters were revealed back in September. The images show a very contemporary, color-blocked office that reflected the synergy between rigid, sharpness of technology and the softer, organic feel of biology.
Outcome Health’s future doesn’t look good amidst federal investigations and an investor lawsuit. At the height, the mayor touted the company as an integral piece driving the city’s economic growth. Now, that hope has been clearly wiped off the table.
Outcome Health and building representatives could not be reached for comment.
- A first look at Outcome Health’s upcoming River North offices [Curbed Chicago]
- Outcome Health quits River North HQ deal [Crain’s]
- Outcome Health raises funding at a more than $5 billion valuation [Chicago Tribune]
- Outcome Health, under scrutiny by investors, offers voluntary buyouts [Chicago Tribune]