175 W Jackson Blvd, Chicago, IL

Located in Chicago, IL, 175 West Jackson is a Class A office asset featuring transformative amenity and lobby renovations. The property benefits from a $17.1 million investment in a rooftop deck, tenant lounge, conferencing facilities, and a state-of-the-art fitness center. Over $24 million has been invested in modernizing and amenitizing the building. Spec suites have been implemented on the 14th floor, with tenants valuing move-in ready space and access to amenities. Since 2020, 83% of all new deals completed were spec suites or existing conditions. Constructed spec suites leased within 9 months, reducing downtime of vacant suites. The spec suites are designed to help prospective tenants visualize their new space, with conference rooms, offices, and communal areas. The property provides investors the opportunity to acquire a Class A office asset at a discount to replacement cost. The replacement cost of a similarly well-located asset would be in excess of $780 per RSF, and new developments would require net rents of $66 per RSF, approximately 50% higher than the Property’s current market rents. Trophy office assets in Chicago’s CBD average gross rents of $70 per RSF. The property benefits from superior connectivity and accessibility, steps from the Quincy and LaSalle/Van Buren stations and under 10 minutes to major commuter train stations. The property has a total size of 1418763 square feet.