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NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 2002
Building Area
Land Area
Number of units 419186

Property Description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been exclusively retained to present the rare opportunity to acquire the 100% fee simple interest in 555 West Monroe (the “Property”), a 429,316 square foot, 17-story Class-A office building. Situated in the heart of the West Loop in Chicago, 555 West Monroe is in an incredible transit-oriented location, proximate to two of the city’s largest train stations and expressways, resulting in an ideal location for commuters. Designed and constructed in 2002 by Skidmore, Owings & Merrill, the Property has served as a regional office for the Fortune 100 food and beverage company, PepsiCo.


The Property will be vacant as of January 2021, which provides investors with the opportunity to acquire a blank canvas and implement an immediate and comprehensive renovation at a basis well below replacement cost. Transformational amenity renovations include a fitness center, coffee bar, and an outdoor lounge on the second floor to further position the property as an ideal modern workplace in Chicago. As one of two contiguous blocks of vacancy over 250,000 rentable square feet in the West Loop, 555 West Monroe is a generational opportunity to transform an entire Class-A office asset in one of the most desired submarkets in Chicago.

Investment Highlights

  • Unrivaled view and location advantages
  • State-of-the-art trophy design with transformative proposed lobby and amenity renovations
  • Rare large contiguous block in 21st century office building represents a blank canvas for investors
  • Incredible basis at a substantial discount to replacement cost
  • Robust, existing infrastructure inclusive of a dedicated data center


Last Updated Date: 03 Sep 2020
Jaime Fink
Jaime Fink
Senior Managing Director, Office Group Leader
License details
IL-471.010204 WI-54163-90 VT-081096202
Jeff Bramson
Jeff Bramson
Senior Managing Director, Chicago Office Co-Head
License details
IL-471.009696

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Last Updated Date: 03 Sep 2020

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