Baron Waller Of Culver's Signs 15-Year Lease At 1212 South Michigan Avenue In Chicago
1212 South Michigan Avenue
Building Size
5,600 SF
Asset Type
Retail
Closing
Dec 10, 2025
About this deal
AI
A retail lease has been executed for a 5,600-square-foot property located at 1212 South Michigan Avenue in Chicago, situated in the South Loop market. This asset is part of the growing retail landscape in the area, with a strategic position near significant landmarks.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Lease Term: 15 years
- Landlord: Horizon Realty Group
- Tenant: Baron Waller - Culver's
- Landlord's Representatives: Craig Wolf & Patrick Duffy - Strauss Realty
- Tenant's Representative: Corey Black - Kirsch Agency
Baron Waller has signed a lease for a Culver's restaurant, planning to open this new location in summer 2026, which will become the largest among his 11 Culver’s outlets, employing up to 80 staff members. The representatives involved in the deal are Craig Wolf and Patrick Duffy, who represented the landlord, while Corey Black represented the tenant, assisting in the successful negotiation of the lease agreement.
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Retail
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Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93