LEASEDOffice
Lactalis Heritage Dairy Expands Office Space At 540 West Madison Street In Chicago
540 West Madison Street
Building Size
48,000 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
Lactalis Heritage Dairy has expanded its office space at 540 West Madison Street in the West Loop area of Chicago. The company has added an additional 13,000 square feet, bringing the total square footage to 48,000. This expansion is part of Lactalis USA's plan to grow its Chicago office, with a goal of reaching 230 positions by January 2024. Since opening in late 2021, the office has already seen a 280% increase in employment.
Summary of transaction details
- Property Type: Office
- Transaction Date: 11/20/2023
- Address: 540 West Madison Street
- Market: Chicago
- Square Footage: 48,000
Lactalis Heritage Dairy's expansion was facilitated by their representative, Peter Cotter of Savills. This signifies continued growth and success for Lactalis Heritage Dairy in the Chicago market.
Players
Chicago Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Deal FAQ
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