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180 N Stetson Ave, Chicago,...

Ryan Specialty Group Leases 32495 Square Feet At 180 N Stetson Ave Chicago From 601W Cos
LEASEDOffice

Ryan Specialty Group Leases 32495 Square Feet At 180 N Stetson Ave Chicago From 601W Cos

180 N Stetson Ave, Chicago, IL, 60601

Building Size

32,495 SF

Asset Type

Office

Closing

Aug 29, 2017

AI

Ryan Specialty Group has secured a lease at 180 N Stetson Ave, Chicago, IL, encompassing a total space of 32,495 square feet. The lease is situated in the Chicago market and involves necessary improvements to accommodate the tenant's operations.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 180 N Stetson Ave, Chicago, IL, 60601
  • Market: Chicago
  • Tenant: Ryan Specialty Group
  • Tenant's Representative: Adam Southard, Savills Studley
  • Landlord: 601W Cos.
  • Square Feet: 32,495

The transactions were brokered by Robert Sevim and Adam Southard, who represented Ryan Specialty Group and its subsidiary, RT Specialty. RT Specialty will operate from a separate location at 500 W. Monroe, leasing a space of 38,000 square feet. 601W Cos. was represented by Bill Truszkowski of Telos Group, while Piedmont Realty Trust, the owner of 500 W. Monroe, was represented by Mark Georgas and Gary Kostecki from JLL.

Players

Adam Southard

Savills

Broker

6 deals

Broker
6C
601W CosLandlord

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