Health Care Service Corp Leases 103533 Square Feet At 920 W Cullerton St Chicago From Condor Partners
920 W Cullerton St, Chicago, IL, 60608
Building Size
103,533 SF
Asset Type
—
Closing
Nov 19, 2023
AI
The property involved in this transaction is an office lease at 920 W. Cullerton St., Chicago, IL, 60608. It encompasses a total of 103,533 square feet. The location is part of Mural Park, a redevelopment project featuring two historic industrial loft buildings in Chicago’s Pilsen neighborhood, which was completed in January 2019. Currently, Mural Park is 63 percent leased, with Health Care Service Corp. being the latest tenant.
Summary of transaction details:
- Property Type: Office Lease
- Transaction Amount: Not specified
- Tenant: Health Care Service Corp
- Landlord: Condor Partners
- Address: 920 W Cullerton St, Chicago, IL, 60608
- Square Feet: 103533
- Market: Chicago
- Tenant's Representatives: Matthew "Matt" Carolan-JLL, Meredith O’Connor-JLL, Amy "Berg" Craig-JLL
- Landlord's Representative: Katie Steele-Transwestern
- Brokers: Jeff Dowdell-Transwestern
The lease transaction involved key representatives including Jeff Dowdell and Katie Steele, who represented the landlord, Condor Partners. The tenant, Health Care Service Corp., was represented by Sean Reynolds, Meredith O’Connor, Matthew Carolan, and Amy Berg from JLL.
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