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150 North State Street

Updated Jan 21, 2026

James Daunt Of Barnes & Noble Leases 30K SF Retail Space At 150 North State Street Chicago
LEASEDRetail

James Daunt Of Barnes & Noble Leases 30K SF Retail Space At 150 North State Street Chicago

150 North State Street

Building Size

30,000 SF

Asset Type

Retail

Closing

Jan 19, 2026

About this deal

AI

The property asset involved in the transaction is a retail space located at 150 North State Street, Chicago, with a total square footage of 30,000. The lease was signed by Barnes & Noble for the former Old Navy space, marking it as their largest store in Chicago.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 150 North State Street
  • Market: Chicago
  • Tenant: James Daunt - Barnes & Noble

This lease agreement reflects a growing trend among major retailers recognizing improving market conditions on State Street, as evidenced by a nearly 14% decrease in vacancies quarter-over-quarter. The transaction is also aligned with ongoing investment initiatives, which surpassed $318 million in the fourth quarter, indicating rising tenant confidence and expectations for future foot traffic, particularly due to developments such as Google’s Thompson Center redevelopment.

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Players

James Daunt

Barnes & Noble

Tenant

4 deals

Tenant
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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

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