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200 East Randolph Street

Service Employees International Union Local 1 Leases 20,000 SF Office At Aon Center
LEASEDOffice

Service Employees International Union Local 1 Leases 20,000 SF Office At Aon Center

200 East Randolph Street

Building Size

20,000 SF

Asset Type

Office

Closing

Apr 26, 2024

AI

The office property located at 200 East Randolph Street in Chicago, spanning 20,000 square feet, was leased on 04/26/2024. The space was secured by Service Employees International Union Local 1 for their downtown Chicago office, signaling a downsizing initiative in response to changing workforce dynamics.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Address: 200 East Randolph Street
  • Market: Chicago
  • Landlord: David Blumberg - 601W
  • Tenant: Genie Kastrup - Service Employees International Union Local 1

Isabella Spinell from JLL, along with Jeff Dowdell and Jamey Dix from The Telos Group, represented the landlord, David Blumberg of 601W, in the leasing transaction. On the tenant's side, Jake Ehrenberg from JLL worked as the representative for Genie Kastrup of Service Employees International Union Local 1, facilitating the downsizing of their office space to 20,000 square feet on the 15th floor of the Aon Center.

Players

Jake Ehrenberg

JLL

Broker

2 deals

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