Office

Discover Financial Services - Chicago

Chicago, Illinois United States
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2002
Building Area Net
Occupancy 100.0 %

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the Discover Customer Care Center in Chicago, IL (the “Property”). The 127,169-SF, newly renovated Property is 100% net-leased to Discover Products, Inc., with a corporate guaranty from investment-grade Discover Financial Services (“Discover”) and over nine years of remaining term. Discover (NYSE: DFS) is one of the largest digital banks and payment partners in the U.S., booking record earnings in 2021 and widely known for rewards, service, and value. The Property is Discover’s first new customer care center in 20 years and is a testament to Discover’s commitment to making an impact in the community, advancing diversity and inclusion, and attracting and retaining talent. Benefiting from over $25 million ($195+ PSF) in Tenant investments and landlord’s improvement allowance, the Property is already a top performer in terms of customer feedback surveys and is expected to house ±1,000 employees by 2024.

Investment Highlights

  • Long-term net-lease with over 9 years remaining and 3.00% annual escalations
  • Corporate guaranty from investment-grade Discover Financial Services (NYSE: DFS) 
  • High-impact investment with 25,000 SF multi-purpose space for community use
  • Dense, infill Chicago location with direct access to major thoroughfares I-94 and I-57
  • $25+ million invested in Class 'A' office space that will house ±1,000 employees
  • Top performing Discover call center in the country with 94% customer satisfaction


Last Updated Date: 19 Sep 2022

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Last Updated Date: 19 Sep 2022

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