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1111 E Touhy Ave, Des Plain...

RelaDyne Leases 6346 Square Feet At 1111 E Touhy Ave Des Plaines From Siete7 LLC
LEASEDOffice

RelaDyne Leases 6346 Square Feet At 1111 E Touhy Ave Des Plaines From Siete7 LLC

1111 E Touhy Ave, Des Plaines, IL, 60...

Building Size

6,346 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property involved in this lease transaction is located at 1111 E Touhy Ave, Des Plaines, IL, with a total square footage of 6,346. The market for this asset is Des Plaines, where the landlord is Siete7 LLC. This transaction is part of three lease agreements totaling 17,432 square feet at this location.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 1111 E Touhy Ave, Des Plaines, IL
  • Market: Des Plaines
  • Tenant: RelaDyne
  • Landlord: Siete7 LLC
  • Square Feet: 6,346
  • Tenant's Representatives: Kevin Segerson (CBRE), Daniel Graham (CBRE)

Cawley Chicago represented the landlord, Siete7 LLC, in all lease negotiations. Architectural and engineering firm Kellermeyer, Godfryt Hart signed a lease for 10,153 square feet, with Andrew Kaplan of CBRE representing that tenant. Cawley also arranged a nearly 1,000-square-foot lease with an undisclosed tenant, with Ryan Freed, Tony Russo, and Rawly Lantz involved in that arrangement. Siete7 is planning to introduce new amenities and property enhancements at the five-story building this summer.

Players

Kevin Segerson

CBRE

Broker

8 deals

Broker

Des Plaines 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