Simon Singer Of FTK Capital Acquires Note On Office Building At 111 West Jackson Boulevard For $25M

The property asset involved in the transaction is an office building located at 111 West Jackson Boulevard in Chicago, valued at $25 million. The building encompasses 560,000 square feet, resulting in a price per square foot of approximately $45.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: $25,000,000
• Address: 111 West Jackson Boulevard
• Market: Chicago
• Square Footage: 560,000
• Price per Square Foot: $45
• Buyer: Simon Singer - FTK Capital
• Seller: Melohn Group
• Brokers: Kevin Thompson & Jack Casper - Iron Hound Management Company

Simon Singer, leading FTK Capital, facilitated the acquisition of the property by purchasing its debt and effectuating a deed transfer from Melohn Group. The 25-story Loop property, currently about 48% occupied, is set for capital improvements and amenity upgrades, and Stream Realty has been appointed for management and leasing.