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550 W Adams St, Chicago, IL...

USG Corporation Leases 220000 Square Feet At 550 W Adams St Chicago From GLL Real Estate Partners
LEASED

USG Corporation Leases 220000 Square Feet At 550 W Adams St Chicago From GLL Real Estate Partners

550 W Adams St, Chicago, IL, 60661

Building Size

220,000 SF

Asset Type

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 550 W Adams St, Chicago, IL, 60661, encompassing a total of 220,000 square feet. It is situated in the Chicago market and serves as a lease property. The landlord for this transaction is GLL Real Estate Partners.

Summary of transaction details:

This lease transaction highlights the collaboration of multiple professionals, with Cushman & Wakefield representing the tenant, USG Corporation, and Sterling Bay alongside The Telos Group representing the landlord, GLL Real Estate Partners.

Players

Brian Duffy

Stream Realty Partners⁠

Broker

$10.5M

vol

3 deals

Broker
GP
GLL Real Estate PartnersLandlord

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