MEPT’s $105M Mortgage Obtained for Chicago’s 200 W. Madison
Multi-Employer Property Trust (MEPT) has taken out a $105 million mortgage on the 928,040-square-foot property located at 200 W. Madison. This comes after paying $217.5 million in cash the Class A office tower more than a year ago. Providing the loan was Prudential Mortgage Capital Co..
We view this as further confidence of Chicago’s West Loop area that is transforming rapidly. Being close to Ogilvie and Union Station has a major appeal for businesses and especially their employees who must navigate Chicago’s usually tough Winters.
Not only is this building holiding great promise because of its location, but is is also a LEED Silver and Energy Star Certified complex. The design also allows for up to eight corner offices per floor. Our law offices are near the building and we are big fans of the property.