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
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
Loading comparables…
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