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
- Property Type: Office
- Address: 29 East Madison Street, Chicago
- Market: Chicago
- Landlord: Marc Realty
- Tenant: Generations College
- Tenant's Rep: David Knight & Ethan Braham - Advocate Commercial Real Estate Advisors
- Asking Rent: $28.00 per square foot
- Size: 12,500 square feet
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
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