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145 South Wells Street

Advocate Commercial Real Estate Advisors Leases 5,980 SF Office Space At 145 South Wells Street, Chicago
LEASEDOffice

Advocate Commercial Real Estate Advisors Leases 5,980 SF Office Space At 145 South Wells Street, Chicago

145 South Wells Street

Building Size

5,980 SF

Asset Type

Office

Closing

Oct 2, 2023

AI

Advocate Commercial Real Estate Advisors, a Chicago-based firm, has relocated its headquarters to the 14th floor of 145 S. Wells, a LEED Gold-certified office building in the West Loop. The firm has signed a lease agreement for 5,980 square feet of space in the modern building. The property offers a range of amenities including a penthouse lounge, pool, café, and outdoor deck, providing a comfortable and stylish work environment for tenants.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 145 South Wells Street, Chicago
  • Size: 5,980 square feet
  • Market: Chicago

The lease transaction was facilitated by Mark Bâby and Matt Lerner of Stream Realty Partners, representing the tenant, Advocate Commercial Real Estate Advisors. On the other side, acting as the landlord's representatives, were Thomas Roszak and Dan Moceri of Moceri + Roszak. The collaboration between the tenant and landlord's teams ensured a successful deal and a smooth transition for Advocate Commercial Real Estate Advisors to its new Chicago headquarters.

Players

Mark Baby

Stream Realty Partners⁠

Broker

$55M

vol

3 deals

Broker

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