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3000 Lakeside Drive

AON And Baxter Woodman Sign Leases At Bannockburn Corporate Center For 45,000 Square Feet
LEASEDOffice

AON And Baxter Woodman Sign Leases At Bannockburn Corporate Center For 45,000 Square Feet

3000 Lakeside Drive

Building Size

44,768 SF

Asset Type

Office

Closing

Oct 8, 2024

AI

The property asset involved in this transaction is an office building located at 3000 Lakeside Drive in Bannockburn. The asset consists of 44,768 square feet and is part of the Bannockburn Corporate Center. Sentinel Net Lease is the landlord of this property.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 3000 Lakeside Drive
  • Market: Bannockburn
  • Landlord: Sentinel Net Lease
  • Tenant: AON & Baxter Woodman
  • Broker: Chris Cummins - JLL

This transaction involved AON leasing 40,000 square feet of the former Donlen space, while Baxter Woodman, an engineering firm, has taken 4,768 square feet. Sentinel Net Lease has signed two new leases for nearly 45,000 square feet in total at the office building, which is equipped with modern amenities and provides easy access to the Greater Chicago area.

Players

Chris Cummins

JLL

Broker

3 deals

Broker

Bannockburn 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