JLL has arranged a $213 million refinancing for 360 North Green, a newly delivered office tower in Chicago. The 500,000-square-foot property is positioned as a modern workspace, with advanced building systems, integrated technology and wellness-focused design elements incorporated into the project.
The refinancing was secured on behalf of institutional investors advised by J.P. Morgan Asset Management and Sterling Bay. JLL Capital Markets’ Debt Advisory team structured a three-year loan with Barings as the lender, providing fresh capital for the ownership group on this recently completed asset.
The JLL team representing the borrowers included Managing Director Lucas Borges, Senior Managing Directors Geoff Goldstein, Danny Kaufman and Kelly Gaines, along with Senior Analysts Emma Berner and Ryan Planek. Their mandate focused on sourcing debt that aligned with the building’s current lease-up profile and its positioning in the Chicago office market.
Delivered in 2024 and designed by Gensler, 360 North Green rises 24 stories and is conceived as a high-specification office environment. The tower’s design prioritizes technology integration, operational efficiency and wellness features, alongside amenity offerings intended to support tenant recruitment and retention.
The property is currently 76% leased to national credit-rated tenants. Notable tenants include Boston Consulting Group and law firm Greenberg Traurig, which recently elected to relocate to the building from another Chicago submarket. Their presence underscores the tower’s appeal to large professional services and legal users seeking newer, high-quality space.
Sterling Bay CEO Andy Gloor noted that leading Chicago companies are gravitating toward assets like 360 North Green for both its central location and the overall tenant experience. The combination of a newly constructed building, institutional ownership and a growing roster of credit tenants provides a backdrop for the refinancing arranged by JLL.
The three-year loan from Barings suggests a financing structure suited to an asset that is still in lease-up but already has a substantial portion of its space committed. With a significant amount of the building leased and additional space available, the refinancing helps position the ownership to continue building occupancy while operating within a contemporary, amenity-rich office environment in Chicago.
