Bathhouse Signs Lease For New Wellness Facility At 1010 W. Madison St
1010 West Madison Street
Building Size
40,000 SF
Asset Type
Commercial
Closing
Oct 20, 2023
AI
The Bathhouse spa provider has signed a lease for a new 40,000-square-foot wellness facility in Chicago's 1010 W. Madison St. building. Developed by Fulton Street Cos, the facility will offer amenities such as saunas, cold plunges, a rooftop pool, and a restaurant. The space will provide both day passes and treatments to its customers.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: Lease
- Market: Chicago
- Address: 1010 West Madison Street
- Landlord: Fulton Street Cos - Alex Najem
- Tenant: Bathhouse
- Asset Type: Commercial
- Square Footage: 40,000 SF
Bathhouse, a spa provider, has partnered with Fulton Street Cos to establish their new wellness facility in Chicago's 1010 W. Madison St. building. The project represents a collaboration between key individuals in the industry and aims to provide a unique and comprehensive spa experience for customers in the area.
Players
Chicago Commercial Market Snapshot
Boundary boundary · Commercial · 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