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155 North Upper Wacker Drive

Sompo International Leases 28,000 SF In John Buck's 155 North Wacker Drive Tower
LEASEDOffice

Sompo International Leases 28,000 SF In John Buck's 155 North Wacker Drive Tower

155 North Upper Wacker Drive

Building Size

28,000 SF

Asset Type

Office

Closing

Feb 8, 2024

AI

Sompo International has leased over 28,000 square feet in John Buck's tower at 155 North Wacker Drive, doubling its downtown footprint. This move reflects a recovery in the office market, with companies seeking newer, amenity-rich spaces. The lease transaction was completed in the Chicago market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 155 North Wacker Drive
  • Market: Chicago
  • Square Footage: 28,000

The landlord for the property is John Buck of the John Buck Company. Sompo International, represented by JLL, was the tenant in this lease agreement. Bill Rolander of Newmark served as the landlord's representative, while Deanna Becker, Kyle Harding, and Patrick Lennon of JLL represented the tenant.

Players

Deanna Becker

JLL

Broker

2 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