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
About this deal
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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 320 South Canal Street
- Market: Chicago
- Tenant: Wab Kadaba - Kilpatrick Townsend & Stockton
- Brokers: Steve Schneider, Chris Wood & Presley Norby - Cushman & Wakefield
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.
On the Map
Office
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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