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
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