Multi-Employer Property Leases 100,000 Sq Ft Office Space In Chicago
200 W Madison St, Chicago, IL, 60606
Building Size
100,000 SF
Asset Type
Office
Closing
May 9, 2017
AI
The property at 200 W Madison St, Chicago, IL, 60606, is an office building with a total square footage of 100,000. The tenant, Barack Ferrazzano Kirschbaum & Nagelberg, renewed their lease for 100,000 square feet at this location through 2032.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 200 W Madison St, Chicago, IL, 60606
- Market: Chicago
CBRE’s Kyle Kamin, Mark Cassata, and Cal Wessman represented the law firm of Barack Ferrazzano Kirschbaum & Nagelberg in their lease renewal. The firm, the anchor tenant of the building for the last 10 years, will continue to occupy the space at 200 West Madison. On the landlord's side, Transwestern’s Jeff Dowdell, Katie Steele, and Courtney Rosoff, along with Sterling Bay's Michael Lirtzman, facilitated the lease renewal deal.
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