Office

33 N LaSalle

33 N LaSalle St, Chicago, IL, 60602-2603, US

33 N LaSalle_Property for Sale

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33 N LaSalle 2_Property for Sale

Asset description

Jones Lang LaSalle (Illinois), L.P. (“JLL”) has been exclusively retained on an exclusive basis to arrange the sale of 33 North LaSalle (the “Property”), a 38-story, Art Deco office tower located in the heart of Chicago’s Central Loop. With over $33 million dollars of capital invested since 2014, ownership has completely transformed the Property, modernizing building systems and implementing state-of-the-art amenities. At 73% occupancy with 3.6 years of remaining weighted lease term, (“W.A.L.T.”), 33 North LaSalle provides an investor the opportunity to substantially increase NOI through the lease up of nearly 90,000 RSF. The combination of the Property’s central location and repositioning, 33 North LaSalle offers potential investors the rare opportunity to create value through the execution of a value-add business plan by leasing up the remaining 27% of vacancy and marking current tenants to market upon expiration.

Attributes

Building area Net
402,683 sf
Occupancy
71.00%
Year built
1929

Investment highlights

  • Vintage Creative Office Reimagined
  • Transit Oriented, Central Location
  • Chicago's Central Loop: Reemergence of The Tech Hub
  • Ability to Grow & Retain Growth Tenants
  • Functional and Diverse Design & Construction 
  • Dynamic Rent Roll with Balanced Rollover
  • Valuable Retail Component Offers Significant Upside 
33 N LaSalle 4_Property for Sale
33 N LaSalle 4_Property for Sale

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Last updated
Nov 30, 2022