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123 West Upper Wacker Drive

CRC Group Leases 20K SF Office Space At 123 North Wacker Drive From Sterling Bay
LEASEDOffice

CRC Group Leases 20K SF Office Space At 123 North Wacker Drive From Sterling Bay

123 West Upper Wacker Drive

Building Size

20,000 SF

Asset Type

Office

Closing

Aug 22, 2025

AI

The property asset involved in the context is an office space located at 123 North Wacker Drive in Chicago, consisting of 20,000 square feet. The lease transaction pertains to the building’s 19th floor, facilitating operational capabilities for the tenant.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 123 North Wacker Drive
  • Market: Chicago
  • Square Footage: 20,000
  • Landlord: Andy Gloor - Sterling Bay
  • Tenant: Dave Obenauer - CRC Group

CRC Group has signed a full-floor lease, specifically occupying the 19th floor of the building. Sterling Bay is responsible for managing leasing, property, and asset management on behalf of the ownership, indicating their capacity in overseeing the transaction and property management.

Players

Andy Gloor

Sterling Bay

Landlord

$993.9M

vol

16 deals

Landlord
Sterling Bay
Sterling BayLandlord

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