Streetz 95.1/105.1 HD 2 Leases Office Space In South Loop, Chicago
1705 South State Street, Chicago, Illinois 60616, United States
Building Size
2,875 SF
Asset Type
Office
Closing
Dec 29, 2021
About this deal
AI
The property involved in this transaction is an office located at 1705 S State St., First Floor in the South Loop area of Chicago. The lease was signed on December 29, 2021. The asset has a total square footage of 2,875 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Date: December 29, 2021
- Address: 1705 S State St., First Floor
- Market: South Loop, Chicago
The landlord of the property is SS1705, LLC. The tenant who signed the lease is Streetz 95.1/105.1 HD 2. The brokers involved in the deal are James Hodur and Benjamin Miotti from Coldwell Banker Commercial NRT.
The asking rent for the lease is $13.57 per square foot. The lease type is Full-Service Gross.
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