Neuberger Berman Leases 52000 SF Office Space At 191 North Wacker Drive In Chicago
191 West Upper Wacker Drive
Building Size
52,000 SF
Asset Type
Office
Closing
Jan 28, 2025
AI
The property asset involved is an office space located at 191 North Wacker Drive in Chicago's West Loop. The total square footage of the asset is 52,000 square feet. Neuberger Berman has signed a lease for the top two floors of this property.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 191 North Wacker Drive
- Market: Chicago
- Tenant: George Walker - Neuberger Berman
- Brokers: Adam Southard, James Wenk & Robert Sevim - Savills
Robert Sevim and Jim Wenk from Savills represented Neuberger Berman in this leasing transaction. The brokers noted that the availability of these top floors presented a prime match for the investment firm.
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