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200 W Madison St, Chicago, ...

Multi-Employer Property Leases 100,000 Sq Ft Office Space In Chicago
LEASEDOffice

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

Kyle Kaminski

JLL

Broker

$197.6M

vol

6 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