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
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