Winston & Strawn LLP Leases 148,000 Sq Ft At 300 North LaSalle, Chicago
300 N La Salle Dr, Chicago, Il 60654, United States
$43
$43/SF
Building Size
148,000 SF
Asset Type
Office
Closing
Jul 24, 2023
AI
Winston & Strawn LLP has recently signed a lease for 148,000 square feet of office space at 300 North LaSalle in Chicago's River North district. The international law firm was attracted to this property due to its architectural significance and landmark location in the city's skyline. Additionally, the recently announced $30 million reinvestment in the iconic tower played a role in their decision.
Summary of transaction details
- Property Type: Office
- Address: 300 North LaSalle, Chicago
- Market: Chicago
- Tenant: Winston & Strawn LLP - Cardelle Spangler
- Landlord: Irvine Company
- Brokers: Nancy Pacher & David Mahoney - CBRE
- Asking Rent: $43/ft. ~ SF: 148,000
This lease deal, facilitated by brokers Nancy Pacher and David Mahoney of CBRE, showcases the collaboration between Winston & Strawn LLP and Irvine Company. The law firm recognized the value of the property's location and its historical significance within Chicago's skyline. This transaction serves as a testament to the ongoing investment and development in the River North district.
Players
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
368906.98%
Cash-on-Cash
-105434.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93