Amalgamated Bank Of Chicago Signs 12-Year Lease At 101 North Wacker Drive In Chicago
101 North Wacker Drive
Building Size
40,000 SF
Asset Type
Office
Closing
Feb 21, 2026
About this deal
AI
The property asset involved in this transaction is located at 101 North Wacker Drive in Chicago. The asset type is classified as an office space, with a total square footage of approximately 40,000. The building is currently 81% leased and is a 23-story structure. Amalgamated Bank of Chicago (ABOC) is relocating from its previous location at 30 N. LaSalle St., a site slated for residential conversion.
Summary of transaction details:
- Property Type: Office
- Lease Term: 12 years
- Landlord: Mark Gabbay - LaSalle Investment Management
- Tenant: Nick Weaver - Amalgamated Bank of Chicago (ABOC)
- Brokers: Jeff Dowdell & Lauren Sharpe - Telos Group
This deal marks the continued trend of tenants moving from older office spaces as the LaSalle Street area undergoes transformation. The new branch and executive offices for Amalgamated Bank of Chicago (ABOC) are set to open this fall, highlighting a shift in leasing dynamics within the Chicago market.
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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