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
Chicago Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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