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123 North Wacker Drive

Transwestern Leases 35000 Square Feet Office Space From Mesa West Capital At 123 North Wacker Drive
LEASEDOffice

Transwestern Leases 35000 Square Feet Office Space From Mesa West Capital At 123 North Wacker Drive

123 North Wacker Drive

Building Size

35,000 SF

Asset Type

Office

Closing

Jan 15, 2026

AI

The property asset involved in this transaction is an office space at 123 North Wacker Drive in Chicago, consisting of a total area of 35,000 square feet. The lease was signed by Transwestern, which will be relocating its flagship office from 200 and 181 W. Madison St. this fall. The building itself is a 595,000-square-foot tower and was recently acquired by Mesa West Capital following a lender seizure.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 123 North Wacker Drive
  • Market: Chicago
  • Asset Size: 35,000 SF
  • Landlord: Ronnie Gul - Mesa West Capital
  • Tenant: Blake Johnson - Transwestern
  • Landlord's Rep: Austin Lusson & Russ Cora - Sterling Bay
  • Tenant's Rep: Larry Serota - Transwestern

This transaction was facilitated by key representatives from both parties, with Austin Lusson and Russ Cora representing the landlord, Mesa West Capital, while Larry Serota represented the tenant, Transwestern. The move indicates a positive trend in downtown leasing and highlights the consistent demand for premium office space in the area among notable real estate firms in Chicago.

Players

Larry Serota

Transwestern

Broker

$5.4M

vol

7 deals

Broker
Sterling Bay
Sterling BayBrokerage
Transwestern
TranswesternBrokerage
Mesa West Capital
Mesa West CapitalLandlord
Blake Johnson

Blake Johnson

Transwestern

Tenant

$186M

vol

3 deals

Tenant
Transwestern
TranswesternTenant

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