The Prime Group, Inc. Acquires Hotel In Chicago For $141M
11 South LaSalle Street, Chicago, IL, USA
$141,000,000
$455/SF
Building Size
309,400 SF
Asset Type
Hotel
Closing
Feb 10, 2021
AI
An hotel located at 11 S. LaSalle Street in Chicago was involved in a recent transaction. The property, managed by The Prime Group, Inc. and represented by Michael W. Reschke, was the subject of a loan. The loan amount secured for the hotel was $141,000,000. The transaction took place on February 11, 2021.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $141,000,000
- Address: 11 S. LaSalle Street, Chicago
- Market: Chicago
Michael W. Reschke, representing The Prime Group, Inc., played a key role in the transaction.
Players
Chicago Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93