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501 W Lake St, Elmhurst, IL...

Fresenius Medical Care Renews Lease At Elmhurst Office Complex With Cresa Representation
LEASEDOffice

Fresenius Medical Care Renews Lease At Elmhurst Office Complex With Cresa Representation

501 W Lake St, Elmhurst, IL, 60126

Building Size

22,699 SF

Asset Type

Office

Closing

Nov 22, 2023

AI

The property involved in this lease transaction is located at 501 W Lake St, Elmhurst, IL, 60126. This office asset occupies a total area of 22,699 square feet within The Corporate Plaza of Elmhurst, situated in the Elmhurst market. The property consists of a single-story office complex featuring high visibility on Lake Street, common docks, office/flex space, and access to major interstates including Route 83 and Interstates 290, 294, and 355. Currently, the property is 73 percent leased, with four available spaces ranging from 4,000 to 13,000 square feet.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Tenant: Fresenius Medical Care
  • Landlord: Dukes Bridge LLC
  • Tenant's Representative: Patricia "Pat" Crow-Cresa
  • Landlord's Representative: Steve Chrastka-NAI Capital

In this lease transaction, Patricia "Pat" Crow represented Fresenius Medical Care, while Steve Chrastka, along with Dan O’Neill from NAI Hiffman, represented the landlord, Dukes Bridge LLC. This transaction involved the renewal of the lease by Fresenius Medical Care at the specified office complex, reflecting their ongoing commitment to the location.

Players

Steve Chrastka

NAI Global

Broker

$7.4M

vol

4 deals

Broker

Elmhurst 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