American General Life Insurance Acquires Office Building In Chicago For $34.7M
30 N La Salle St
$34,700,000
$35/SF
Building Size
988,000 SF
Asset Type
Office
Closing
Oct 10, 2023
AI
The 988,000-square-foot office building located at 30 North LaSalle Street in Chicago has been sold for $34.7 million. The property was acquired by American General Life Insurance through a foreclosure auction. The future use of the building is uncertain, but there have been proposals to convert it into multifamily housing.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $34,700,000
- Address: 30 North LaSalle Street
- Market: Chicago
American General Life Insurance, represented by Peter Zaffino, purchased the property from AmTrust Realty, represented by Jonathan Bennett.
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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93