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30 W Monroe St, Chicago, IL...

Scopelitis Garvin Light Hanson & Feary P.C. Leases 13424 Square Feet At 30 W Monroe St Chicago
LEASEDOffice

Scopelitis Garvin Light Hanson & Feary P.C. Leases 13424 Square Feet At 30 W Monroe St Chicago

30 W Monroe St, Chicago, IL, 60603

Building Size

13,424 SF

Asset Type

Office

Closing

Feb 5, 2019

AI

The property involved in this lease transaction is the Inland Steel Building, located at 30 W Monroe St, Chicago, IL, 60603. The building spans a total of 250,000 square feet and consists of a 19-story office tower and a 25-story service tower. The specific lease is for 13,424 square feet of space on the 16th floor, contributing to the building's LEED Gold Certification and offering amenities such as an onsite fitness center, bike room, and a restaurant.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Square Feet: 13,424
  • Address: 30 W Monroe St, Chicago, IL, 60603
  • Market: Chicago
  • Tenant: Scopelitis, Garvin, Light, Hanson & Feary, P.C.
  • Landlord: Capital Properties
  • Tenant’s Representative: Corby Marx (Colliers International), Jon Azulay (Savills)
  • Landlord’s Representative: Mark Buth (MB Real Estate)

Corby Marx from Colliers International and Jon Azulay from Savills represented the tenant, Scopelitis, Garvin, Light, Hanson & Feary, P.C., which has been a long-term tenant at 30 West Monroe since 2003. The landlord, Capital Properties, was represented by Mark Buth from MB Real Estate. The transaction marks an expansion of Scopelitis from its previous space on the fifth floor to occupy the entire 16th floor, aiming to modernize within a favorable location in close proximity to Chicago’s courthouses.

Players

Jon Azulay

Savills

Broker

3 deals

Broker
CP
Capital PropertiesLandlord

Hanson & Hanson

Tenant

$12.9M

vol

2 deals

Tenant

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