$151.3 Million Non-Performing Office Loan | Chicago, IL
70,771 m²
Asset Description
Jones Lang LaSalle (Illinois), L.P. (“JLL”) has been exclusively retained to arrange the sale of O’Hare International Center (the “Property” or “OIC”), an institutionally maintained 556,466 RSF Class A office complex prominently situated adjacent to O’Hare International Airport with access to Metra rail, CTA rail, Airport Transit System (ATS) Facility, I-90, and I-294. At 84% leased with 4.5 years of remaining weighted average lease term (“WALT”), O’Hare International Center provides an investor strong in-place cash flow with upside through remaining OIC II renovations as well as two acres of underutilized developable land. All inquiries to purchase this Property should be directed to JLL.
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Attributes
Building area net
51,697 m²
Occupancy
83%
Year built
1984
Media
Investment Highlights
- In-Place Yield With Upside
- $60M Contractual Rent Through 1Q2028
- Fully Renovated OIC I Benefits From The Flight To Quality
- $5.03 Million OIC I Renovation, 303,760 RSF Leased
- 4.7% Average Annual Rent Growth Since 2019
- OIC II Repositioning Opportunity
- Unrivaled Local, Regional ,& International Connectivity
- Unique Urban / Suburban Location
- Institutionally Owned & Maintained
Contact brokers
O'Hare International Center (0 Properties)
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Last updated
16 May 2024
