Firenze Group Acquires Office Property In Chicago For $310M

311 South Wacker Drive, Chicago, IL 60606

$310,000,000

Building Size

—

Asset Type

Office

Closing

Jan 25, 2022

AI

The under contract property in Chicago is located at 311 S. Wacker Dr and falls under the asset type of Office. The property was sold by Zeller Realty Group and Cindat Capital Management.

Summary of transaction details:

Property Type: Office
Transaction Amount: $310,000,000
Market: Chicago
Buyer: Firenze Group - Aldo Saavedra
Seller: Zeller Realty Group & Cindat Capital Management

The buyer of the property is Firenze Group represented by Aldo Saavedra. The sale of this property was made for the price of $310,000,000.

Players

ZG

Zeller Realty GroupSeller

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

0.05%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93