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33 North Dearborn Street

AmTrust Renews Leases For Heyl, Royster, Voelker & Allen, P.C. And KIPP Foundation At 33 North Dearborn
LEASEDOffice

AmTrust Renews Leases For Heyl, Royster, Voelker & Allen, P.C. And KIPP Foundation At 33 North Dearborn

33 North Dearborn Street

Building Size

20,000 SF

Asset Type

Office

Closing

Jan 17, 2024

AI

The 33 North Dearborn Street office property in Chicago's Central Loop has renewed leases for two tenants as part of AmTrust's $100 million commitment to upgrade its Chicago portfolio. Heyl, Royster, Voelker & Allen, P.C. extended its lease for 13,383 square feet, while KIPP Foundation extended its lease for 6,617 square feet.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: N/A
  • Square Footage: 20,000
  • Address: 33 North Dearborn Street
  • Market: Chicago

The tenants involved in the lease renewal at 33 North Dearborn Street are Tobin Taylor from Heyl, Royster, Voelker & Allen, P.C. and Shavar Jeffries from KIPP Foundation. The landlord of the property is Jonathan Bennett, representing AmTrust.

Players

Jonathan Bennett

AmTrust RE

Landlord

$322.9M

vol

10 deals

Landlord

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