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
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