Benefiting from a transit-oriented location within the West Loop, the lender owned Property is provides a basis reset opportunity at the epicenter of nearly $2.4 billion of amenity rich developments, parks, and public spaces completed between 2019-2022. The 12-story 142,997 rentable square foot (“RSF”) Property currently operates as a 33.9%* leased mixed-use office and retail building with 4.4 years of remaining weighted average lease term (“WALT”). Originally constructed in 1896, 209 W Jackson is recognized by the National Register of Historic Places, providing investors with the potential for lucrative subsidies available via Historic Tax Credits (“HTC”) and Class L Property Tax Incentives (“Class L”). Paired with flexible underlying DC-16 Downtown Mixed-Use zoning and a highly adaptable boutique floor plan, the Property presents investors with exceptionally rare optionality to pursue a broad range of as-of-right adaptive reuses.
- Lender Owned Basis Reset Opportunity with Available Financing
- Irreplaceable Transit-Oriented & Amenity Rich Location
- Developer Friendly As-Of-Right Zoning
- Existing National Landmark Status Provides Path For Valuable Government Subsidies
- Versatile Boutique 12,000 RSF Floor Plates
- Valuable In-Place Commercial Income Anchored by Reputable Retailers