Goldman Ismail Tomaselli Brennan & Baum Signs 43,000-SF Lease At 191 North Wacker Drive
191 North Wacker Drive
Building Size
43,000 SF
Asset Type
Office
Closing
Mar 4, 2025
AI
The asset involved in this lease transaction is an office space located at 191 North Wacker Drive in Chicago, encompassing a total area of 43,000 square feet. The property is positioned in a market where downtown office vacancies stand at 26.3%. The tenant is significantly expanding its footprint, moving from a 22,000-square-foot lease at 200 South Wacker Drive to this new space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 43,000
- Address: 191 North Wacker Drive
- Market: Chicago
- Landlord: Roy Gori - Manulife; Oliver Bäte - Allianz
- Tenant: Alan E. Littmann - Goldman Ismail Tomaselli Brennan & Baum
- Landlord's Representative: Eric Myers, Kathleen Bertrand & Katie Steele - Transwestern
- Tenant's Representative: Michael Marrion - Cresa
This transaction highlights the involvement of key industry players where Roy Gori and Oliver Bäte represent the landlords, while Alan E. Littmann is the tenant representing Goldman Ismail Tomaselli Brennan & Baum. The respective brokers, Eric Myers, Kathleen Bertrand, and Katie Steele from Transwestern, along with Michael Marrion from Cresa, played significant roles in facilitating this lease agreement.
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