Glenn August And Tim Callahan Secure $700 Million Refinance Loan For Office At 110 North Wacker Drive
110 North Wacker Drive
$700,000,000
$459/SF
Building Size
1,522,000 SF
Asset Type
Office
Closing
Dec 1, 2025
AI
The property asset involved in this loan transaction is an office building located at 110 North Wacker Drive in Chicago, IL. The total square footage of the asset is 1,522,000. The loan amount for this refinancing transaction is set at $700,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $700,000,000
- Lender: Jamie Dimon - JPMorgan, Charles Scharf - Wells Fargo, Brian Moynihan - Bank of America, David Solomon - Goldman Sachs, Darryl White - BMO
- Landlord: Glenn August - Oak Hill Advisors, Tim Callahan - Callahan Capital Partners
- Landlord's Representative: Jordan Roeschlaub, Nick Scribani, Chris Lozinak, Tim Polglase - Newmark
- Loan Type: Refinance
Key individuals involved in the deal include Glenn August and Tim Callahan as the landlords, representing Oak Hill Advisors and Callahan Capital Partners respectively. Additionally, the landlord's representatives include Jordan Roeschlaub, Nick Scribani, Chris Lozinak, and Tim Polglase from Newmark, who facilitated this refinancing transaction.
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
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93