$77.5 Million Non-Performing Office Loan
US - Washington, DC
A$115,413,000 | 28,508 m²
Jones Lang LaSalle (Illinois), L.P. (“JLL”) has been exclusively retained on an exclusive basis to arrange the sale of 33 North LaSalle (the “Property”), a 38-story, Art Deco office tower located in the heart of Chicago’s Central Loop. With over $33 million dollars of capital invested since 2014, ownership has completely transformed the Property, modernizing building systems and implementing state-of-the-art amenities. At 73% occupancy with 3.6 years of remaining weighted lease term, (“W.A.L.T.”), 33 North LaSalle provides an investor the opportunity to substantially increase NOI through the lease up of nearly 90,000 RSF. The combination of the Property’s central location and repositioning, 33 North LaSalle offers potential investors the rare opportunity to create value through the execution of a value-add business plan by leasing up the remaining 27% of vacancy and marking current tenants to market upon expiration.