AmTrust RE Leases 9,630 SF Office To Skyline Construction In Chicago
1 East Wacker Place
Building Size
9,630 SF
Asset Type
Office
Closing
Apr 24, 2024
About this deal
AI
The lease transaction involves a 9,630-square-foot office located at 1 East Wacker Place in the Chicago market. The landlord, Patrick Kearney of AmTrust RE, finalized the lease with tenant Jessica Carps of Skyline Construction. CBRE brokers Jon Milonas and Kyle Kamin facilitated the transaction.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Address: 1 East Wacker Place
- Market: Chicago
- Landlord: Patrick Kearney - AmTrust RE
- Tenant: Jessica Carps - Skyline Construction
- Brokers: Jon Milonas & Kyle Kamin - CBRE
The lease at One East Wacker, a prominent Chicago Riverwalk tower, reflects Skyline Construction's growth strategy. AmTrust RE's investment in capital improvements further highlights the commitment to enhancing the building's appeal.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93