Milan Galik Of Interactive Brokers Group Leases 55000 Square Feet At 300 South Riverside Plaza
300 S Riverside Plz
Building Size
55,000 SF
Asset Type
Office
Closing
Sep 20, 2024
AI
The office asset at 300 South Riverside Plaza in Chicago features a total square footage of 55,000. It is part of a market exhibiting a trend of companies adjusting their physical space requirements due to the rise of remote work.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 300 South Riverside Plaza
- Market: Chicago
- Square Footage: 55,000
- Landlord: Third Millennium Group
- Tenant: Milan Galik - Interactive Brokers Group
- Broker Representatives: Bill Sheehy & Mark Cassata - CBRE
The lease negotiation involves Interactive Brokers Group consolidating its operations from its current locations on LaSalle Street. This shift is expected to affect the demand for office space within the historic Rookery building, reflecting broader changes in tenant preferences towards modern office environments.
Players
Chicago Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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