203 N LaSalle_Property for Sale
203 N LaSalle_Property for Sale
203 N LaSalle St, Chicago, IL, 60601-1267, US

203 N LaSalle

Asset description

Jones Lang LaSalle (Illinois), L.P. (“JLL”) has been exclusively retained to arrange the sale of 203 North LaSalle (the “Property”), a luxury, 27 story office tower located in the northern part of Chicago’s Central Loop submarket. The Property has recently completed an extensive $22 million dollar transformation, modernizing the building and bringing best-in-class amenities throughout. 78% occupied, with 7.2 years of remaining weighted lease term, (“W.A.L.T.”), the Property provides an investor the opportunity to increase NOI through the lease up of nearly 140,000 RSF by attracting prospective tenancy through high quality and creative office environments. The value-add profile of 203 N LaSalle allows investors the opportunity to capitalize on a strong lease-up play. With Google’ announcement of their intention to buy the Iconic James R. Thompson Center building upon future renovation, the Central Loop will begin to reemerge as Chicago’s Tech Corridor, ultimately attracting a greater desire for major companies to office employees within the most accessible and transit-oriented area.

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Attributes

Building area net
57,631 sm
Occupancy
80.4%
Year built
1985
Year renovated
2016
Zoning
B6-7, Chicago

Media

Investment highlights

  • Timeless Asset Modernized
  • Balanced Rollover With Significant Lease-Up Opportunity 
  • Transit Oriented, Central Location 
  • Chicago’s Central Loop: Reemergence Of The Tech Hub
  • Checks All The Boxes For An Executable Value-Add Opportunity 
203 N LaSalle 4_Property for Sale
203 N LaSalle 4_Property for Sale

Contact brokers

203 N LaSalle (0 Properties)

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Last updated
Nov 3, 2023