$151.3 Million Non-Performing Office Loan | Chicago, IL
70 771 m²
Jones Lang LaSalle (Illinois), L.P. (“JLL”) as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in 400 Skokie Boulevard (the “Property”, the “Opportunity”, "400 Skokie"), a newly renovated 219,972 rentable square foot ("RSF") class A office asset located in the highly sought after Skokie Boulevard corridor within Chicago’s affluent North Shore. The strategic location benefits from convenient access to walkable amenities along Skokie Boulevard and is proximate to executive decision makers. Further illustration of the fortress location is the significant presence of wealth managers, family offices, attorneys, and clinical medical within the Property and throughout the corridor.
400 Skokie Boulevard is 79.1% leased to a diverse roster of occupants with no single tenant occupying more than 11% of the total rentable area. The tenant mix boasts nearly 22% clinical healthcare occupants anchored by a newly signed lease with University of Chicago Medicine (AA- Fitch Credit Rating) who will be contributing upwards of $7.6 million of capital towards the build out of its newest flagship North Shore clinical location.
The Property’s irreplaceable North Shore location and comprehensive renovations provide investors the opportunity to acquire a Class A office building featuring stable in-place cash flow generated from a diverse roster of hyper-local, clinical, and high credit tenancy.