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One South Wacker Dr, 1 S Wa...

Gemini Leases Office Space At 1 South Wacker Drive In Chicago
LEASEDOffice

Gemini Leases Office Space At 1 South Wacker Drive In Chicago

One South Wacker Dr, 1 S Wacker Dr, Chicago, Illinois 60606, United States

Building Size

17,000 SF

Asset Type

Office

Closing

Mar 15, 2022

AI

The office building located at 1 South Wacker Drive in Chicago has recently been leased in a long-term agreement. The property spans approximately 17,000 square feet and was leased by Gemini, represented by Tyler Winklevoss and Cameron Winklevoss. The asking rent for the space was $38 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Date: 03/16/2022
  • Market: Chicago
  • Tenant: Gemini - Tyler Winklevoss & Cameron Winklevoss
  • Tenant's Rep: Brad Serot & Tony Coglianese - CBRE
  • Asking Rent: $38 per square foot
  • Lease Terms: Long-term

Gemini, led by Tyler Winklevoss and Cameron Winklevoss, made this lease agreement for the office space. They were represented by Brad Serot and Tony Coglianese from CBRE. The lease terms were specified as long-term.

Players

Bradley Serot

CBRE

Broker

12 deals

Broker

Chicago Office Market Snapshot

Boundary boundary · Office · Lease transactions

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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