Callahan Capital Partners & Oak Hill Advisors Acquire Office Building On 110 N. Wacker Drive In Chicago For $210M
110 N Wacker Dr, Chicago, Illinois 60606, United States
$210,000,000
$140/SF
Building Size
1,500,000 SF
Asset Type
Office
Closing
Mar 30, 2022
About this deal
AI
The office building located at 110 N. Wacker Drive in Chicago has been sold in a transaction facilitated by Eastdil Secured. The property, totaling 1,500,000 square feet, was acquired by Callahan Capital Partners and Oak Hill Advisors from The Howard Hughes Corp., represented by David R. O’Reilly. The sale price for the office asset was $210,000,000, resulting in a price per square foot of $140.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $210,000,000
- Square Footage: 1,500,000
- Address: 110 N. Wacker Drive, Chicago
- Market: Chicago
The buyers in this transaction were Callahan Capital Partners and Oak Hill Advisors. They acquired the office building from The Howard Hughes Corp., with David R. O’Reilly representing the seller. Eastdil Secured acted as the broker for this deal, facilitating the transaction between the parties involved.
On the Map
$210,000,000
$140/SF
Office
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Players
Chicago Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93