Prime Group And Capri Interests Acquire Former Cboe Global Markets Headquarters In Chicago For $12M
400 South La Salle Street
$12,000,000
$31/SF
Building Size
385,000 SF
Asset Type
Office
Closing
Jul 31, 2024
About this deal
AI
The property asset involved in the transaction is located at 400 South La Salle Street in Chicago, with a sale price of $12,000,000. The property is an office asset comprising a total area of 385,000 square feet. The price per square foot stands at $31.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $12,000,000
- Buyer: Mike Reschke & Jeff Breaden - Prime Group; Quintin Primo - Capri Interests
- Seller: Cboe Global Markets
- Buyer's Representative: Alex Smith - Cushman & Wakefield
- Seller's Representatives: Bruce Miller - JLL; Holly Duran & Jeff Mulder - Colliers
- Loan Amount: $7,000,000
- Market: Chicago
Prime Group and Capri Interests are set to convert the former Cboe Global Markets headquarters into a data center to meet the increasing demand for data center space and power capacity.
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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93