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142 E Ontario St Chicago, I...

Re:Cognition Health Leases Medical Office Space On East Ontario Street In Chicago
LEASEDMedical Office

Re:Cognition Health Leases Medical Office Space On East Ontario Street In Chicago

142 E Ontario St Chicago, IL 60611, USA

$35

$35/SF

Building Size

3,200 SF

Asset Type

Medical Office

Closing

Jun 22, 2023

AI

Re:Cognition Health, a London-based cognitive health provider specializing in Alzheimer's and dementia treatment, has secured a new office space at 142 East Ontario Street in Chicago's North Michigan Avenue submarket. The medical office property is ideally located near downtown hospitals, contributing to the increased demand for such facilities in the area. The office space spans 3,200 square feet, and the asking rent is $35 per square foot.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: N/A
  • Address: 142 East Ontario Street
  • Market: Chicago
  • Tenant: Re:Cognition Health
  • Broker: Andy DeMoss - Bradford Allen
  • Asking Rent: $35/ft.
  • Square Footage: 3,200

Andy DeMoss of Bradford Allen facilitated the arrangement of the new office space for Re:Cognition Health. His expertise and knowledge of the North Michigan Avenue submarket played a crucial role in identifying a suitable location for the London-based cognitive health provider. By securing this new space, Re:Cognition Health can now expand its services and contribute to the well-being of patients in the area.

Players

Andy DeMoss

Bradford Allen

Broker

1 deal

Broker

Chicago Medical Office Market Snapshot

Boundary boundary · Medical Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

453228.57%

Cash-on-Cash

-129534.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93