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JPMorgan Chase Expands Lease At Citadel Center In Chicago To 321000 SF Through TPG Angelo Gordon And Hines

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LEASED
Laura Hines-Pierce

Illinois

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Office321,000 SF
Leased 04/11/2025
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LEASED

JPMorgan Chase Expands Lease At Citadel Center In Chicago To 321000 SF Through TPG Angelo Gordon And Hines

131 South Dearborn Street

See Similar Deals
Office321,000 SF
Leased 04/11/2025
Laura Hines-Pierce
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Summary

ILLINOIS
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:321,000 SF
Transaction Type:Lease

The property asset involved in this transaction is an office space located at 131 South Dearborn Street in Chicago. This asset spans 321,000 square feet and is part of a larger 1.5 million square foot building known as Citadel Center.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: 126,000 sf lease expansion
  • Landlord: Josh Baumgarten & Adam Schwartz - TPG Angelo Gordon; Jeff Hines & Laura Hines-Pierce - Hines
  • Tenant: Jamie Dimon - JPMorgan Chase
  • Financing Amount: $448M from BayernLB

This deal involves significant stakeholders, with Jamie Dimon representing JPMorgan Chase as the tenant. The landlords are a collaboration between TPG Angelo Gordon and Hines, with Joshua Baumgarten and Adam Schwartz listed as representatives from TPG Angelo Gordon, and Jeff Hines and Laura Hines-Pierce representing Hines in this transaction. JPMorgan Chase's lease expansion is structured through staggered terms that will conclude in 2026 and 2029.

Details

LEASED
IMAGE: Laura Hines-Pierce, Josh Baumgarten, Jamie Dimon, Adam Schwartz & Jeff Hines DATE: 04/11/2025 ADDRESS: 131 South Dearborn Street MARKET: Chicago ASSET TYPE: Office ~ SF: 321,000 LANDLORD: Josh Baumgarten & Adam Schwartz - TPG Angelo Gordon; Jeff Hines & Laura Hines-Pierce - Hines (@TXHines57) (@Hines) TENANT: Jamie Dimon - JPMorgan Chase (@JPMorgan) NOTE: JPMorgan Chase expanded its lease at Chicago’s 1.5M-sf Citadel Center by 126,000 sf, now occupying 321,000 sf through staggered terms ending in 2026 and 2029. The building is owned by TPG Angelo Gordon and Hines, with $448M in financing from BayernLB. $LauraHinesPierce

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Deal Type
Effective Rent (Annual)

$18,399,526.29

Total Lease Value

$183,995,262.95

Net Landlord Cash Flow$18,399,526.29