Relativity Cuts Leased Office Space In Chicago's 231 South LaSalle Street
231 S La Salle St Chicago, Il 60604, Usa
$35
$35/SF
Building Size
100,000 SF
Asset Type
Office
Closing
Aug 25, 2023
AI
Relativity is cutting its leased office space at 231 South LaSalle St. in Chicago from 180,000 to 100,000 square feet. Additionally, Northern Trust is vacating 200,000 square feet from the same property. The property, owned by Beacon Capital Partners and managed by Fred Seigel, is an office building located at 231 South LaSalle Street in the Chicago market.
Summary of transation details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 231 South LaSalle Street, Chicago
- Market: Chicago
- Tenant: Relativity
- Tenant's Rep: Brad Serot & Paul Reaumond - CBRE
- Landlord: Beacon Capital Partners - Fred Seigel
- Landlord's Rep: Jack O’Brien & Matt Whipple - Telos Group
- Asking Rent: $35/ft.
The deal involved various individuals and companies. Jack O’Brien and Matt Whipple from Telos Group represented the landlord, Beacon Capital Partners. Brad Serot and Paul Reaumond from CBRE served as the tenant's representatives for Relativity.
Players
Street 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
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93