LaSalle Investment Management's Income & Growth Fund Series Secures $153M Loan For Chicago Office Building
123 N Wacker Dr, Chicago, IL, USA
$153,000,000
$278/SF
Building Size
550,000 SF
Asset Type
Office
Closing
Feb 24, 2021
About this deal
AI
The asset involved in this transaction is an office property located at 123 North Wacker in the Chicago market. The transaction involves a loan amount of $153,000,000, which is secured by a five-year, floating-rate bridge loan, covering an area of 550,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $153,000,000
- Loan Terms: five-year, floating-rate bridge loan
- Square Footage: 550,000
- Address: 123 North Wacker
- Market: Chicago
- Landlord: LaSalle Investment Management’s Income & Growth Fund Series
- Brokers: Keith Largay & Lucas Borges JLL Capital Markets
The key individuals involved in the transaction include Lucas Borges and Keith Largay, who represent JLL Capital Markets in this loan arrangement. They play a crucial role in facilitating the deal on behalf of the landlord, LaSalle Investment Management's Income & Growth Fund Series.
On the Map
$153,000,000
$278/SF
Office
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Players
Chicago Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93