Boston Consulting Group Leases 250,000 Sq Ft At 360 N Green, Chicago
360 N Green St, Chicago, IL, 60607
Building Size
250,000 SF
Asset Type
—
Closing
Nov 22, 2023
AI
Located at 360 N Green St, Chicago, IL, 60607, the property is a 24-story, 500,000-square-foot office and retail development in Chicago's Fulton Market district. Boston Consulting Group (BCG) has signed a 15-year lease for roughly 250,000 square feet of office space in this building, where they plan to move 1,000 of their Chicago-based employees. The developers of this building are Sterling Bay and J.P. Morgan Global Alternatives, with the design done by Gensler. Construction of the building is set to commence in the summer.
Summary of transaction details:
- Property Type: Office and Retail
- Transaction Amount: Not Disclosed
- Landlord's Representative: Russ Cora (Sterling Bay)
- Tenant: Boston Consulting Group
- Landlord: J.P. Morgan Global Alternatives
- Square Feet: 250,000
Nancy Pacher, Lisa Konieczka, and Meredith Bell Frese of CBRE acted as representatives for the tenant, Boston Consulting Group. On the other side, Russ Cora and Jess Brown represented ownership internally. This lease agreement signifies a significant move for BCG, positioning them in a prime location within Chicago's thriving business district.
Players
Chicago CRE Market Snapshot
Boundary boundary · CRE · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93