One North State_Property for Sale
One North State_Property for Sale
1 N State St, Chicago, IL, 60602-3302, US

One North State

Asset Description

Jones Lang LaSalle (Illinois), L.P. (“JLL”) as the exclusive advisor, presents the opportunity to acquire the 100% fee simple interest in One North State (the “Property”), a 560,735 RSF, 16-story office building located in Chicago’s Central Business District. At 41% leased with 4.1 years of weighted average lease term (“WALT”), the Property provides an investor the opportunity to acquire an office asset at a substantial discount to replacement cost and substantially increase NOI through lease up of 328,000 square feet.


Located on the northeast corner of Madison and State Streets, One North State’s location boasts unrivaled views and transportation advantages linking the Property to talent in both the city center and suburbs. Originally constructed in 1912, ownership has meticulously maintained and transformed the Property with nearly $36.5 million of capital invested since 2016 to modernize building systems and develop state-of-the-art amenities. Paired with an amenity set that is unrivaled by comparable assets in Chicago’s East Loop, One North State offers investors the exceptionally rare opportunity to create value through lease up. All inquiries regarding this value-add office asset should be directed to JLL.

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Attributes

Building area net
560,735 sf
Occupancy
41%
WAULT
4.1 years

Media

Investment Highlights

  • Checks All the Boxes for an Executable Value-Add Opportunity


  • State-of-the-Art Trophy Design with Transformative Amenity Renovations


  • Unrivaled Transit-Oriented Location


  • Opportunity to Acquire Asset at Substantial Discount to Replacement Cost


One North State 4_Property for Sale
One North State 4_Property for Sale

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One North State (0 Properties)

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Last updated
3 Jul 2024