JLL, as exclusive advisor, is pleased to present an outstanding value add opportunity to acquire the 100 percent fee simple interest in the office, retail and parking components of One East Erie (the “Property”), a 6-story asset prominently located in downtown Chicago within the heart of River North – Chicago’s most sought after mixed-use neighborhood. The offering entails 108,956 square feet of office located on floors 2-6, 14,853 square feet of ground-level retail space prominently situated on State Street, one of Chicago’s most highly-trafficked retail corridors, 2,113 square feet of storage space and 208 parking spaces within the Property’s attached parking garage.
Currently 81.3 percent leased at rents well below today’s market levels, One East Erie offers investors the rare combination of income diversity, stable cash flow and the opportunity realize significant upside by marking existing leases to market in Chicago’s top performing submarket. One East Erie’s dynamic floorplate, generous window line, abundant natural light, amenity rich environment and transit-oriented location make it poised to become a truly notable creative office building in River North. Positioned amid a vast array of entertainment venues, restaurants, shopping and other residential towers, the Property’s retail and parking components benefit from 24/7 demand and a substantial customer base.
For more information, please contact:
Bruce G. Miller
+1 312 228 2340
Nooshin N. Felsenthal
Senior Vice President
+1 312 228 2602
For information on debt availability, please contact:
Maggie S. Coleman
Executive Vice President
+1 312 228 2975