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231 S La Salle St Chicago, ...

Relativity Cuts Leased Office Space In Chicago's 231 South LaSalle Street
LEASEDOffice

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

Bradley Serot

CBRE

Broker

12 deals

Broker
Fred Seigel

Fred Seigel

Beacon Capital Partners

Landlord

$81M

vol

5 deals

Landlord

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