900 North Michigan
A mixed-use property in Chicago, Illinois. Securitized in 1 CMBS deal in 2024.
$315.0MAppraised value (latest deal)
88.8%Occupancy
$22.8MUnderwritten NOI
7.2%Implied cap rate
- Address
- 900 North Michigan Avenue, Chicago, IL 60611
- Property type
- Mixed Use · Retail/Office
- Year built
- 1988
- Size
- 831,350 SF
- Sponsor
- JMB Realty Corporation
- Loan purpose
- Refinance
- Largest tenant
- Bloomingdale's
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BANK 2024-BNK48 | 2024-10-01 | $315.0M | 88.8% | $22.8M | 7.2% | $45.0M | 57.1% | 1.77x | 424B |
Historical NOI reported in BANK 2024-BNK48
| Period ending | NOI |
|---|---|
| 12/31/2023 | $26.7M |
| 12/31/2022 | $25.8M |
| 12/31/2021 | $26.7M |
More CMBS properties in Illinois →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.