Sheridan Capital Partners Signs 25,445 SF Lease At Jewelers Building With Landlords Prime Group And CRG
35 E. Wacker Drive
Building Size
25,445 SF
Asset Type
Office
Closing
Aug 18, 2025
AI
The property involved in this transaction is an office asset located at 35 East Wacker Drive, Chicago. It encompasses a total of 25,445 square feet. The ownership of the asset includes Prime Group and CRG, who acquired the 556,200 square foot landmark property for $36 million in 2023. The building has seen an increase in occupancy rates, now reaching 70%.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 35 East Wacker Drive
- Market: Chicago
- Square Footage: 25,445
- Landlord: Shawn Clark - CRG ; Michael W. Reschke - Prime Group
- Tenant: Jonathan Lewis - Sheridan Capital Partners
- Brokers: Adam Pines & Andrew Marty - Madison Rose
Jonathan Lewis of Sheridan Capital Partners signed a lease for the new headquarters, moving from the Wrigley Building. Madison Rose represents the ownership in this transaction, marking a significant change in the operational presence of Sheridan Capital Partners in the area.
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