200 S Wacker_Property for Sale
200 S Wacker_Property for Sale
200 S Wacker Dr, Chicago, IL, 60606-5829, US

200 S Wacker

Asset Description

Jones Lang LaSalle (Illinois), L.P. (“JLL”) as the exclusive advisor, presents the opportunity to acquire the 100% fee simple interest in 200 South Wacker (the “Property” or “Opportunity”), a 761,775 square foot, 40-story office building located in Chicago's West Loop. Originally constructed in 1981, 200 South Wacker represents an opportunity to acquire a Class A office asset with world-renowned Chicago River views on the prestigious Wacker Drive. At 82% leased with 5 years of remaining average lease term ("WALT"), the Property offers durable in-place cash flow while providing an investor the opportunity to substantially increase NOI through the lease up of nearly 135,000 square feet. Located between Wacker Drive and the east bank of the Chicago River, 200 South Wacker’s location boasts unrivaled views and transportation advantages, conveniently linking the Property to talent in both the city center and suburbs. With over $8.5 million of capital invested since 2018, ownership has meticulously maintained and transformed the Property, modernizing building systems and implementing state-of-the-art amenities. Paired with its Wacker Drive location and high quality amenity offerings, 200 South Wacker offers investors the exceptionally rare opportunity to create value through strategic lease up and marking current tenants to market upon expiration.

...

Attributes

Building area Net
70,119 m²
Occupancy
96.00%
Year built
1956
Land area net
0.28 ha (2,792 m²)
Number of units
758,961 units
NOI
A$17,976,000

Media

Investment Highlights

  • Prestigious Wacker Drive Asset Which Caters to Active Tenancy in Market
  • Durable In-Place Cash Flow with Upside
  • State-of-the-Art Trophy Design with Transformative Lobby & Amenity Renovations
  • Unrivaled Transit-Oriented Location
  • Incredible Basis at a Substantial Discount to Replacement Cost


200 S Wacker 4_Property for Sale
200 S Wacker 4_Property for Sale

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200 S Wacker (0 Properties)

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Last updated
1 May 2023