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415 North Aberdeen Street, ...

Lofty LLC Leases Office Space In West Loop, Chicago, With Landlord Kinzie Building Company, LLC
LEASEDOffice

Lofty LLC Leases Office Space In West Loop, Chicago, With Landlord Kinzie Building Company, LLC

415 North Aberdeen Street, Chicago, IL 60642

Building Size

1,800 SF

Asset Type

Office

Closing

Dec 12, 2021

AI

Lofty LLC has recently signed a lease for an office space located at 415 N Aberdeen Street in the West Loop neighborhood of Chicago. The office space, with a total area of 1,800 square feet, is owned by Kinzie Building Company, LLC. The lease was facilitated by the brokers James Hodur and Benjamin Miotti from Coldwell Banker Commercial NRT. The terms of the lease are classified as Full-Service Gross, with an asking rent of $23.33 per square foot.

Summary of transaction details

  • Property Type: Office
  • Address: 415 N Aberdeen Street, West Loop, Chicago
  • Market: West Loop, Chicago
  • Tenant: Lofty LLC
  • Landlord: Kinzie Building Company, LLC
  • Brokers: James Hodur & Benjamin Miotti - Coldwell Banker Commercial NRT
  • Lease Type: Full-Service Gross
  • Asking Rent: $23.33 per square foot
  • Lease Size: 1,800 square feet

James Hodur and Benjamin Miotti, representing Coldwell Banker Commercial NRT, were instrumental in bringing together both the landlord and the tenant, ensuring a successful lease agreement. This lease transaction demonstrates the continued demand for office space in the West Loop area, as well as the proficiency of James Hodur and Benjamin Miotti in navigating such deals.

Players

Benjamin Miotti

Coldwell Banker

Broker

$33.9M

vol

27 deals

Broker
KL
Kinzie Building Company, LLCLandlord
LL
Lofty LLCTenant

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