facebook

traded

+ Submit
Home

/

Deals

/

Illinois

/

Office

/

Lease

/

20 N Clark St, Chicago, IL,...

Syd Jerome Leases 7300 Square Feet At 20 N Clark St Chicago With Andrew Davidson As Tenant's Rep
LEASEDOffice

Syd Jerome Leases 7300 Square Feet At 20 N Clark St Chicago With Andrew Davidson As Tenant's Rep

20 N Clark St, Chicago, IL, 60602

Building Size

7,300 SF

Asset Type

Office

Closing

Aug 2, 2019

AI

The property involved in the transaction is located at 20 N Clark St, Chicago, IL, 60602, within the Chicago market. It is a two-level ground floor space totaling 7,300 square feet in an office tower situated in Chicago’s Central Loop.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Tenant: Syd Jerome
  • Landlord: Accesso
  • Tenant's Representative: Andrew Davidson - Transwestern
  • Landlord's Representatives: Paul Gaines and Paul Einum - Accesso; Todd Siegel - CBRE
  • New store layout: 4,300 square feet on the first floor and 3,700 square feet on the lower level
  • Design Architect: Lori Mukoyama - Gensler Chicago
  • Construction Company: 41 North Contractors of Chicago

This transaction marks a significant relocation for Syd Jerome, a luxury menswear store, which is moving from its previous location at 2 North LaSalle. The decision to relocate involved nearly a year of searching for a prime high-traffic location, allowing Syd Jerome to enhance the shopping experience for its customers. The new store will include specialized spaces such as a tailor shop, event space, and seasonal storage, with an emphasis on creating a curated shopping atmosphere.

Players

Andrew Davidson

Transwestern

Broker

$7.5M

vol

5 deals

Broker
Accesso
AccessoLandlord

Chicago Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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