Finance N Illinois

JLL arranges $6M refinancing for boutique office property in Chicago

JLL arranges 6M refinancing for boutique office property in Chicago,ph1

JLL Capital Markets arranged a $6 million refinancing for 200 East Ohio, a boutique office property totaling 27,000 square feet in the Chicago’s Streeterville neighborhood. JLL worked on behalf of the borrower, Tishman Realty, to secure the financing through a Chicago-based financial institution.

200 East Ohio is a five-story boutique property that is nearly 90 percent occupied by a diverse tenant roster. The property is steps away from Chicago’s Magnificent Mile, where many of Chicago’s premier retailers reside and within walking distance of many of Chicago’s premier hotels, more than 450 retail stores and more than 275 restaurants. The property fills a rare niche within the Chicago market—a small office building in Chicago’s North Michigan Avenue submarket that appeals to tenants seeking quality space while providing all the amenities that have made the area the epicenter of the city’s retail and dining scene.

The JLL Capital Markets team representing the borrower was led by managing director Christopher Carroll and director Lucas Borges. The deal was secured by HFF prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.