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320 South Canal Street

Kilpatrick Townsend & Stockton Leases 29000 SF Office At BMO Tower In Chicago
LEASEDOffice

Kilpatrick Townsend & Stockton Leases 29000 SF Office At BMO Tower In Chicago

320 South Canal Street

Building Size

29,000 SF

Asset Type

Office

Closing

Sep 5, 2025

AI

The property asset involved in this transaction is an office space located at 320 South Canal Street in Chicago, encompassing 29,000 square feet.

Summary of transation details:

Kilpatrick Townsend & Stockton has signed a lease at BMO Tower, consolidating two Chicago offices totaling over 70,000 square feet into this new location starting in October 2026. This move results in a considerable reduction of office space, impacting landlords at 175 W. Jackson Blvd. and 500 W. Madison St., while enhancing BMO Tower’s leasing momentum.

Players

Steve Schneider

Cushman & Wakefield

Broker

4 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage
Wab Kadaba

Wab Kadaba

Kilpatrick Townsend & Stockton

Tenant

1 deal

Tenant
Kilpatrick Townsend & Stockton
Kilpatrick Townsend & StocktonTenant

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