A Mexican-American restaurant and bar is taking the place of the recently shuttered Loop steakhouse McCormick & Schmick’s.
Espiritu, an upscale restaurant offering classic Chicago dishes with a Mexican twist, will occupy the 10,000-square-foot ground-floor retail space at 1 E. Wacker Drive, as well as 2,200 square feet of adjoining patio area along Wacker Drive, building owner AmTrust RE announced.
The team behind Espiritu includes Chicago Cut Steakhouse co-founder Matt Moore and Emidio Oceguera, who launched the restaurant Cerdito Muerto in Pilsen in 2024.
“We are extremely excited to bring an upscale, authentic Mexican American restaurant to the vibrant Loop community, with an emphasis on high quality seafood and prime steak,” Moore said in a statement.
Espiritu will be opening at the base of a 41-story riverfront office tower whose owner has made a significant investment into revitalizing the property. New York-based AmTrust announced in 2023 that it would put a total of $50 million into renovations at 1 E. Wacker Drive and another office tower at 33 N. Dearborn St., two of five office buildings the firm owns in the Loop.
In the last year, AmTrust has renovated the Wacker Drive building’s facade, upgraded its lobby and restrooms, and created a second-floor amenity space that includes an event hall and conference center.
“One East Wacker is a prime example of our core strategy: thoughtful reinvestment into our core office assets within strong U.S. market locations,” AmTrust president Jonathan Bennett said in a statement.
New leases from restaurants in well-capitalized office buildings have helped drive some retail leasing momentum in the Loop, helping push retail vacancy in the LaSalle/Wacker corridor down to 26.81% in 2025, down from 28.55% in 2024, according to data from Stone Real Estate.
McCormick & Schmick’s told employees on New Year’s Eve that it would close after the restaurant’s parent company, Landry’s, opted not to renew its lease for the space, according to news reports.
Dana Moyles of Dana Moyles Real Estate Services represented Espiritu in the 1 E. Wacker lease. Stone Real Estate brokers John Vance and Will Winter represented AmTrust.