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
About this deal
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.
On the Map
$29
$29/SF
Office
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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