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535 North Saint Clair Street

Club Studio Fitness Signs 45000 Square Foot Lease At 535 North Saint Clair In Chicago
LEASEDOffice

Club Studio Fitness Signs 45000 Square Foot Lease At 535 North Saint Clair In Chicago

535 North Saint Clair Street

Building Size

45,000 SF

Asset Type

Office

Closing

Jan 13, 2025

AI

The property at 535 North Saint Clair Street is an office asset consisting of 45,000 square feet located in the Chicago market. This mixed-use development is currently 95% leased in residential rentals and has its ground-floor retail fully leased.

Summary of transaction details:

Club Studio Fitness has signed a lease spanning three floors within the Saint Grand development, affirming the developers' vision for this mixed-use property. The leasing activity involved multiple representatives, showcasing the collaboration between various agencies to facilitate this transaction.

Players

Adam Pines

Broker

3 deals

Broker
Madison Rose
Madison RoseBrokerage

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