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
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