350 North Orleans_Property for Sale
350 North Orleans_Property for Sale
350 N Orleans St, Chicago, IL, 60654-1975, US

350 North Orleans

Asset Description

Jones Lang LaSalle (Illinois), L.P. (“JLL”) has been exclusively retained to arrange the sale of 350 N Orleans (the “Property” or the “Offering”), a compelling value-add office repositioning opportunity located in Chicago. Comprising 13- and 23-story office towers, the Property was designed by Skidmore, Owings & Merrill and constructed in 1977. The Property has completed an extensive $54 million transformation, modernizing the building and providing best-in-class amenities to tenants. With 65.2% occupancy and an average lease term of 4.5 years, 350 N Orleans provides a durable in-place cash flow while providing an investor the opportunity to substantially increase NOI through the lease-up of 462,548 square feet of vacant space. The large floor plates and contiguous top-floor blocks of available space position 350 N Orleans as an ideal home for tenants looking to have a sizable presence.

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Attributes

Building area net
1,308,156 sf
Occupancy
72%
Year built
1977

Media

Investment Highlights

  • FLEXIBLE RECAPITALIZATION OPPORTUNITY


  • UNRIVALED TRANSIT ORIENTED LOCATION


  • IRREPLACEABLE LIVE-WORK-PLAY DESTINATION


  • PREMIERE MIXED-USED ASSET


  • RECENT CAPITAL INFUSION MEETS “FLIGHT-TO-QUALITY” CRITERIA


  • COMPELLING VALUE CREATION OPPORTUNITY


  • LARGE & EFFICIENT FLOORPLATES


  • INCREDIBLE BASIS AT A SUBSTANTIAL DISCOUNT TO REPLACEMENT COST
350 North Orleans 4_Property for Sale
350 North Orleans 4_Property for Sale

Contact brokers

350 North Orleans (0 Properties)

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Last updated
4 Apr 2024