State Of Illinois Acquires Office Building In Chicago's Monroe Street From Principal Financial Group For $73.25M
555 West Monroe Street, Chicago, IL, USA
$73,250,000
$170/SF
Building Size
429,316 SF
Asset Type
Office
Closing
Jan 27, 2021
About this deal
AI
The State of Illinois, under the administration of JB Pritzker, has acquired an office asset located at 555 W. Monroe Street in Chicago. The property was sold by Principal Financial Group at a price of $73,250,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $73,250,000
- Buyer: State of Illinois - The Pritzker Administration - JB Pritzker
- Seller: Principal Financial Group
- Date: 01/28/2021
- Market: Chicago
This transaction marks the acquisition of the property by the State of Illinois, specifically under the administration of JB Pritzker. The seller, Principal Financial Group, successfully sold the office asset located at 555 W. Monroe Street in the Chicago market.
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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93