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65 East Wacker Place, Chica...

Intersection Realty Group Acquires Office Building In Chicago's East Wacker Place For $19.3M
SOLDOffice

Intersection Realty Group Acquires Office Building In Chicago's East Wacker Place For $19.3M

65 East Wacker Place, Chicago, Illinois 60601, United States

$19,300,000

$86/SF

Building Size

223,000 SF

Asset Type

Office

Closing

Oct 11, 2022

AI

The property involved in this closed transaction is an office located at 65 East Wacker Place in Chicago. The property spans 223,000 square feet and was sold for a price of $19,300,000, resulting in a price per square foot of $87.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $19,300,000
  • Address: 65 East Wacker Place, Chicago
  • Market: Chicago
  • Buyer: Intersection Realty Group - Chase Chavin & Truman Tolefree
  • Seller: Acres Capital
  • Square Footage: 223,000
  • Price per Square Foot: $87

The buyer in this transaction was Intersection Realty Group, represented by Chase Chavin and Truman Tolefree. On the other hand, the seller was Acres Capital.

Players

IG
Intersection Realty GroupBuyer

Truman Tolefree

Intersection Realty Group

Buyer

$119.3M

vol

2 deals

Buyer
ACRES Capital
ACRES CapitalLender

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

0.82%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93