Monos Signs 10-Year Lease For 2800 Square Feet Retail Space At 160 North Morgan Street
160 North Morgan Street
Building Size
2,800 SF
Asset Type
Retail
Closing
Nov 12, 2024
AI
The property in question is a 2,800-square-foot retail space located at 160 North Morgan Street in Chicago. This asset is part of The Dylan, a mixed-use development that is 30 stories high and is scheduled to open in the spring of 2025. The development was completed in October 2023 and is currently 97% leased.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Lease Term: 10-year
- Landlord: Jess Brown - Sterling Bay
- Tenant: Monos
- Brokers: Phillip Golding & Todd Siegel - CBRE
The lease agreement was facilitated by Phillip Golding and Todd Siegel of CBRE, representing the landlord, Jess Brown of Sterling Bay. Monos is set to occupy the retail space within The Dylan, contributing to the development's tenant mix in the Fulton Market area of Chicago.
Players
Chicago Retail Market Snapshot
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