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10 N. Dearborn - Chicago, IL
December 2013
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Within three weeks, arranged the all-cash purchase of an 11-story, 80,300 rsf, boutique office building for $10.5 million ($131 psf) centrally located in Chicago loop CBD. Negotiated a 20% discount from contract price for year-end close.
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Business plan included $3.0 million upgrade of building infrastructure and tenant spaces to increase occupancy to 93% from 71% at purchase.
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10 N. Dearborn was sold to incoming tenant in August 2015. Purchase option was not exercised. Occupancy was increased to 97% by sale date.
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