In one of the largest office transactions in the city of Chicago’s history, Sidley Austin Brown & Wood LLP leased more than 500,000 square feet at the building that will be known as One South Dearborn St. Sidley will serve as the anchor tenant of the 820,000-square-foot office tower, which will be built on a vacant parcel of land. Hines has contracted to purchase the land from a unit of the French insurance conglomerate, AXA. Hines plans to break ground on the new, 40-story building by late 2003, with completion expected in the fourth quarter of 2005.