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8420 West Bryn Mawr Avenue

Chicago Department Of Aviation Signs 99,421 Square Foot Lease At U.S. Cellular Plaza
LEASEDOffice

Chicago Department Of Aviation Signs 99,421 Square Foot Lease At U.S. Cellular Plaza

8420 West Bryn Mawr Avenue

Building Size

99,421 SF

Asset Type

Office

Closing

Dec 10, 2024

AI

The property involved in this transaction is an office space located at 8420 West Bryn Mawr Avenue in Chicago, comprising a total square footage of 99,421. This asset is part of the U.S. Cellular Plaza.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Date: 12/10/2024
  • Landlord: FCA Partners
  • Tenant: Chicago Department of Aviation
  • Landlord's Representative: Francis Prock & Jonathon Connor - Colliers
  • Tenant's Representative: Fred Ishler - Avison Young
  • Lease Term: Long-term lease through 2033
  • Employee Count: Over 330 employees across 18 contractors

This lease transaction secures operational space for the Chicago Department of Aviation, facilitating the relocation of contractors involved in the O’Hare 21 modernization project from their current location near the airport. The deal supports the ongoing expansion and renovation efforts at O’Hare International Airport.

Players

Francis Prock

Colliers

Broker

$13M

vol

4 deals

Broker

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