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224 West Hill Street

NAMI Chicago Leases 10,058 SF Office Space At Old Town Park In Chicago
LEASEDOffice

NAMI Chicago Leases 10,058 SF Office Space At Old Town Park In Chicago

224 West Hill Street

Building Size

10,058 SF

Asset Type

Office

Closing

Apr 22, 2024

AI

The office property at 224 West Hill Street in Chicago, spanning 10,058 square feet, was involved in a lease transaction. Duncan Wlodarczak of Onni Group served as the landlord, while Alexa James of NAMI Chicago acted as the tenant.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 224 West Hill Street
  • Market: Chicago
  • Landlord: Duncan Wlodarczak - Onni Group
  • Tenant: Alexa James - NAMI Chicago

Representing the landlord, Abby McFayden of Madison Rose facilitated the deal, while Cresa's Ryan Foran and Jonathan Zeitler worked as tenant's representatives. It was mentioned that the move to Old Town Park in Chicago was to accommodate NAMI Chicago's expansion, with Abby McFayden highlighting the enhanced service capabilities and community cohesion the new space would provide.

Players

Ryan Foran

Cresa

Broker

3 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