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
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