$151.3 Million Non-Performing Office Loan | Chicago, IL
761,775 sf
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
556,466 sf
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
May 16, 2024
