SOLD
North American Real Estate Acquires Mixed-Use Asset In Chicago For $15M
100 South State Street
Mixed-use
69,000 SF
69,000 SF
Sold 99 days ago
Summary
Sale
ILLINOIS
Mixed-use
69,000 sqft
North American Real Estate has acquired the 69,000-square-foot mixed-use office and retail building located at 100 South State Street in Chicago. The property was sold by Dan Tishman of Tishman Realty for a total of $15 million. The sale price equates to a price per square foot of $217.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $15,000,000
- Square Footage: 69,000
- Address: 100 South State Street, Chicago
The property was 58% occupied at the time of the sale, with tenants having an average remaining lease term of nine years. Despite carrying a loan encumbrance of $37 million since 2019, the property was listed for sale in March. This acquisition by North American Real Estate represents a significant investment in the Chicago market.
Details
SOLD
IMAGE: Dan Tishman
DATE: 01/30/2024
ADDRESS: 100 South State Street
MARKET: Chicago
ASSET TYPE: Mixed-use
BUYER: North American Real Estate
SELLER: Dan Tishman - Tishman Realty
SALE PRICE: $15,000,000
SF: 69,000 ~ PPSF: $217
NOTE: North American Real Estate purchased the 69,000-square-foot office and retail building at 100 South State St. in Chicago from Tishman Realty for $15 million. Despite a $37 million loan encumbrance since 2019, the property, which was 58% occupied with tenants averaging a remaining lease term of nine years, was listed for sale last March.View on map
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Address100 South State Street
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