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
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