facebook

traded

+ Submit
Home

/

Deals

/

Illinois

/

Office

/

Lease

/

1 N State St, Chicago, IL, ...

Showpad Leases 68391 Square Feet At 1 N State St Chicago With Tenant's Rep James G. Stein
LEASEDOffice

Showpad Leases 68391 Square Feet At 1 N State St Chicago With Tenant's Rep James G. Stein

1 N State St, Chicago, IL, 60602

Building Size

68,391 SF

Asset Type

Office

Closing

Jun 16, 2019

AI

One North State, located at 1 N State St, Chicago, IL, 60602, is a historic office building that has a total square footage of 68,391. The property is situated in the Chicago market and has been recently leased by Showpad, a global sales enablement company.

Summary of transaction details:

This lease marks a significant expansion for Showpad, which previously occupied 18,368 square feet in the same building. The redevelopment of One North State by Shorenstein Properties includes upgrades designed to support innovative companies, making it an attractive location for businesses seeking to attract and retain talent in the Chicago area.

Players

Kelsey Scheive

CBRE

Broker

5 deals

Broker
SL
Shorenstein Properties LLCLandlord

Chicago Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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