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203 N La Salle St

Sumitomo Corp Of Americas Leases 52,300 Square Feet At 203 North LaSalle Street Chicago
LEASEDOffice

Sumitomo Corp Of Americas Leases 52,300 Square Feet At 203 North LaSalle Street Chicago

203 N La Salle St

Building Size

52,300 SF

Asset Type

Office

Closing

Oct 25, 2024

AI

The property asset involved is an office space located at 203 North LaSalle Street in Chicago, comprising a total size of 52,300 square feet. The building is a 27-story tower with a total square footage of 624,724 and is owned by Sumitomo Corp. of Americas.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Square Footage: 52,300
  • Address: 203 North LaSalle Street
  • Market: Chicago
  • Landlord: Sumitomo Corp. of Americas
  • Tenant 1: Office of the State Appellate Defender - 36,000 square feet
  • Tenant 2: Masuda Funai - 16,300 square feet
  • Brokers: Kathleen Bertrand, Eric Myers, John Nelson & John Ziesmer - Transwestern

Transwestern facilitated the lease renewals for the Office of the State Appellate Defender and Masuda Funai at the property. The Office of the State Appellate Defender renewed its lease for 36,000 square feet, while Masuda Funai leased 16,300 square feet on the 17th floor. To date, leasing activity at the tower totals approximately 134,000 square feet for the year.

Players

Eric Myers

Transwestern

Broker

8 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