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191 North Wacker Drive

Goldman Ismail Tomaselli Brennan & Baum Signs 43,000-SF Lease At 191 North Wacker Drive
LEASEDOffice

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

Michael Marrion

Cresa

Broker

1 deal

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