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
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