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29 E Madison St, Chicago, I...

Generations College Extends Lease At 29 East Madison Street In Chicago
LEASEDOffice

Generations College Extends Lease At 29 East Madison Street In Chicago

29 E Madison St, Chicago, IL 60602

$28

$28/SF

Building Size

12,500 SF

Asset Type

Office

Closing

Jun 15, 2023

AI

Generations College has extended their lease at 29 East Madison Street, Chicago. This property has been their home for the past 23 years. Generations College, formerly known as MacCormac College, is a fully accredited, non-profit, two-year college that has been operating in Chicago for over 119 years. The lease term has been extended, solidifying their commitment to the location.

Summary of transaction details

Generations College's decision to extend their lease demonstrates their commitment to their longstanding presence in Chicago. They have chosen to continue their operations at 29 East Madison Street, ensuring their accessibility and convenience for students and staff. The lease extension was facilitated by David Knight and Ethan Braham of Advocate Commercial Real Estate Advisors, serving as the tenant's representatives in the deal.

Players

David Knight

Advocate Commercial Real Estate Advisors

Broker

1 deal

Broker
MR
Marc RealtyLandlord

Market 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

566535.71%

Cash-on-Cash

-161917.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93