facebook

traded

+ Submit
Home

/

Deals

/

Illinois

/

Office

/

Lease

/

120 S Riverside Plaza, Chic...

Raymond James Signs Lease For Two Floors At 120 South Riverside Plaza In Chicago West Loop
LEASEDOffice

Raymond James Signs Lease For Two Floors At 120 South Riverside Plaza In Chicago West Loop

120 S Riverside Plaza, Chicago, IL 60606, USA

$29

$29/SF

Building Size

74,000 SF

Asset Type

Office

Closing

Aug 11, 2023

AI

Raymond James has signed a lease for two floors at 120 South Riverside Plaza in Chicago's West Loop. The office space spans approximately 74,000 square feet and is owned by Ivanhoé Cambridge and Hines. The lease was facilitated by CBRE, with Kelsey Scheive and Kelsey Morgan representing the landlords, and Cushman & Wakefield, with Todd Brandon, Steve Schneider, Chip Evans, and Presley Norby representing Raymond James.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Lease
  • Address: 120 South Riverside Plaza, Chicago
  • Market: Chicago
  • Landlord: Ivanhoé Cambridge & Hines
  • Tenant: Raymond James
  • Landlord's Rep: Kelsey Scheive & Kelsey Morgan - CBRE
  • Tenant's Rep: Todd Brandon, Steve Schneider, Chip Evans & Presley Norby - Cushman & Wakefield
  • Asking Rent: $29/ft. ~ SF: 74,000

The move to 120 South Riverside Plaza is part of a larger repositioning effort by Ivanhoé Cambridge. The building will undergo renovations to enhance its amenities and outdoor spaces, providing a modern and attractive environment for Raymond James.

Players

Todd Brandon

Cushman & Wakefield

Broker

1 deal

Broker
Hines
HinesLandlord

Raymond James

Tenant

2 deals

Tenant

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

547000.00%

Cash-on-Cash

-156334.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93