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

Property Image
SOLD
$25,000,000
Kevin Thompson
Simon Singer
Jack Casper

Illinois

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Note / Loan560,000 SF
Sold 03/12/2026
the dealplayerscompscontact
Property Image
SOLD

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

111 West Jackson Boulevard

See Similar Deals
Note / Loan560,000 SF
Sold 03/12/2026
Kevin Thompson
Simon Singer
Jack Casper
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Note / Loan
Price Per Square Foot:$44
Total Square Footage:560,000 SF
Transaction Type:Sale

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.

Players

Kevin Thompson
Iron Hound Management Company
Kevin Thompson
5 deals$617.2M volume(410) 215-6760
BROKER
Jack Casper
Iron Hound Management Company
Jack Casper
1 deal$25M volume(860) 836-0560
BROKER
Simon Singer
Simon Singer
2 deals$36.6M volume
BUYER
MG
Melohn Group
SELLER

Details

SOLD
IMAGE: Kevin Thompson, Jack Casper & Simon Singer DATE: 03/12/2026 ADDRESS: 111 West Jackson Boulevard MARKET: Chicago ASSET TYPE: Note / Loan BUYER: Simon Singer - FTK Capital SELLER: Melohn Group BROKERS: Kevin Thompson & Jack Casper - Iron Hound Management Company SALE PRICE: $25,000,000 SF: 560,000 ~ PPSF: $45 NOTE: FTK Capital, led by Simon Singer, acquired the 560,000-square-foot office building at 111 West Jackson Boulevard after purchasing the property’s debt for $25 million and completing a cooperative deed transfer from Melohn Group. Stream Realty has been tapped to manage and lease the 25-story Loop property, which is about 48% occupied and slated for capital improvements and amenity upgrades.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05