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224 North Desplaines Street...

Updated Oct 28, 2024

Ryan Cos. Acquires Office Space In Chicago's North Desplaines Street
LEASEDOffice

Ryan Cos. Acquires Office Space In Chicago's North Desplaines Street

224 North Desplaines Street, Chicago, Illinois 60661, United States

Building Size

6,500 SF

Asset Type

Office

Closing

Apr 5, 2022

About this deal

AI

Located at 224 North Desplaines Street in Chicago, this recently leased office space is a prime asset in the market. The property features approximately 6,500 square feet and was leased by Ryan Cos. The deal was facilitated by Jim McDonald, representing Ryan Cos., for a negotiated asking rent of $33 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Lease
  • Date: 04/06/2022
  • Address: 224 North Desplaines Street, Chicago
  • Tenant: Ryan Cos.
  • Tenant's Representative: Jim McDonald
  • Asking Rent: $33 per square foot
  • Square Footage: 6,500

This lease transaction involved Ryan Cos., with their representative, Jim McDonald. The negotiated agreement for the office space at 224 North Desplaines Street in Chicago resulted in a lease with an asking rent of $33 per square foot.

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RC
Ryan CosTenant
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Chicago Office Market Snapshot

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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

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