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
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.
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