
525 West Van Buren
525 W Van Buren St, Chicago, IL, 60607-3823, US
47,974 平方米
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $47.3 million non-performing office loan (the “Loan” or “Note”). The Loan is secured by the mortgage on the fee-simple interest in a class A office complex in suburban Chicago, IL. (the “Collateral”, “Property”, or “Properties”). The Loan went non-performing as a result of a maturity default in January 2023 and has a current unpaid principal balance of $47.3 million.
The Collateral is comprised of two, nine-story office buildings located adjacent to O’Hare International Airport in suburban Chicago. Constructed from 1984 to 1987, the institutionally owned Property has received over $7 million of capital injections since 2018. As of April 2025, the Property is 78.2% occupied and benefits from a WALT of 4.0 years.
The offering presents investors the opportunity to buy a non-performing Loan at a favorable basis, significantly below replacement cost, with a path to ownership through a deed-in-escrow.
Deed-in-Escrow
Investors will have a direct path to title through a deed-in-escrow, allowing investors to step into the Properties at a historically low basis.
Value-Add Opportunity
With a current occupancy of 78.2%, investors are provided a significant value-add component on a class A property with strong existing in place cash flow.
Exceptional Location
Situated in an amenity-rich village adjacent to O’Hare International Airport, the Property boasts a prime location with unparalleled access to a diverse array of dining, shopping, and entertainment options, as well as exceptional connectivity via O’Hare International Airport, Metra rail, CTA rail, I-90, and I-294.
Institutionally Owned & Maintained
Since completion of the development in 1987, the Property has been institutionally owned and maintained by only four owners, ensuring the Property has been the beneficiary of a thorough operating maintenance program and capital upgrades.
Recent Capital Injections
Since 2018, the Properties experienced over $7 million in capital injection to enhance tenant amenities, including significant upgrades to the lobby, corridors & restrooms, and spec suites.