Enter the "Deal room" for exclusive documents related to this property.
Jones Lang LaSalle (Illinois), L.P. (“JLL”) has been exclusively retained to arrange the sale of 65 East Wacker Place (the “Property” or the “Offering”). Benefiting from a prestigious Wacker address, the Property is situated on an exclusive one block enclave, East Wacker Place, offering the same world-renowned Chicago River views and locational benefits as East Wacker Drive with the convenience of reduced vehicular traffic. The 24- story 222,768 rentable square foot (“RSF”) Property currently operates as a 46.3% leased mixed-use office and retail destination with 4.2 years of remaining weighted average lease term (“WALT”). Originally constructed in 1928, 65 E Wacker Pl is recognized by the National Register of Historic Places, providing investors with the potential for significant competitive advantages available via Historic Tax Credit (“HTC”) and Class L Property Tax Incentives (“Class L”). Paired with flexible 9,400 RSF side core floor plates and highly desirable underlying DX-16 Downtown Mixed-Use zoning, the Property presents value-add investors with exceptionally rare optionality to pursue either a boutique office repositioning, as of right adaptive reuse, or a combination thereof.
- Irreplaceable Wacker Location
- Versatile Floor Plates & Developer Friendly Zoning Allows for A Spectrum of Creative As of Right Adaptive Reuse Projects
- Existing National Landmark Status Provides Path For Valuable HTC and Class L Eligibility
- Boutique Value-Add Office Opportunity Provides In-Place Cash Flow with Substantial Upside
- Incredible Basis at a Substantial Discount to Replacement Cost