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71 S Wacker Dr, Chicago, IL...

Updated Oct 29, 2024

Kyle Robbins Of Transwestern Represents Spectrum Science Communications In Chicago Office Lease Deal
LEASEDOffice

Kyle Robbins Of Transwestern Represents Spectrum Science Communications In Chicago Office Lease Deal

71 S Wacker Dr, Chicago, IL, 60606

Building Size

4,871 SF

Asset Type

Office

Closing

Dec 13, 2018

About this deal

AI

Located at 71 S Wacker Dr, Chicago, IL, 60606, the property involved in this lease transaction is an office asset spanning 4871 square feet. The landmark 48-story modern workplace community is owned by Irvine Company Office Properties and attracts a diverse range of customers from various industries in downtown Chicago.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not applicable
  • Tenant's Representative: Kyle Robbins (Transwestern)
  • Tenant: Spectrum Science Communications
  • Landlord: Irvine Company Office Properties

The lease deal at 71 South Wacker saw Spectrum Science Communications, a marketing and communications agency specializing in health and consumer organizations, secure a 4871 square feet space within the prestigious office building. The transaction was facilitated by Kyle Robbins of MB Real Estate representing the tenant, under the representation of Benesch Law by Brad Despot, Annie Nicolau, and Mark Georgas from JLL, who represented the Irvine Company in all deals.

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Players

Kyle Robbins

Transwestern

Broker

2 deals

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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

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