Office · Chicago, Illinois
181 West Madison Street
Public CMBS trusts hold $84.4M of the loan on 181 West Madison Street at 3.90% that reaches maturity on December 1, 2026, in 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $84,380,908
- Original balance (same notes)
- $93,000,000
- Interest rate
- 3.90% fixed
- Originated
- November 27, 2019
- Maturity
- December 1, 2026
- Payments
- Interest only for the full term
- Prepayment lockout ended
- July 31, 2026
- Master servicer
- Midland
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- Transferred January 22, 2026
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 181 West Madison Street, Chicago, IL 60602
- Metro
- Chicago-Naperville-Elgin, IL-IN
- Rentable area
- 946,099 sq ft
- Built
- 1990, renovated 2016
- Largest tenants
- THE NORTHERN; QUANTITATIVE; Union Tank Car
- Value at securitization
- $375.3M (Oct 2019)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 5.16x | n/a |
| Occupancy | 88% | n/a |
| Net operating income | $22.0M | n/a |
Watch flags
Computed from the Benchmark 2020-B16 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- With the special servicer
- Matures within 12 months
On the cmbs.news watch list in every report since March 2026.
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $84.4M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| August 2026 | $84.4M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| July 2026 | $84.4M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| June 2026 | $84.4M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| May 2026 | $84.4M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| April 2026 | $93.0M | Late payment but less than 30 days delinquent | Yes | 1.63x | 86% |
| March 2026 | $93.0M | Late payment but less than 30 days delinquent | Yes | 1.63x | 86% |
| February 2026 | $93.0M | Current | No | 1.63x | 86% |
| January 2026 | $93.0M | Current | No | 1.63x | 86% |
| December 2025 | $93.0M | Current | No | 1.54x | 87% |
| November 2025 | $93.0M | Current | No | 1.54x | 87% |
| October 2025 | $93.0M | Current | No | 1.54x | 87% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Special-servicing history
- Transferred to the special servicer November 2, 2021, returned to the master servicer October 31, 2023.
- Transferred to the special servicer January 22, 2026, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2020-IG1 Mortgage Trust | 9 | $45,366,080 | Sep 2026 | SEC filing, September 28, 2026 |
| Benchmark 2020-B16 Mortgage Trust | 10 | $39,014,829 | Sep 2026 | SEC filing, October 1, 2026 |
Other Chicago-Naperville-Elgin loans due in 2026
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Aon Center | Chicago, IL | Office | $136.0M | 4.627% | Jul 2026 | 4.11x | 66% | Past maturity and not performing |
| Riverway | Rosemont, IL | Office | $114.6M | 4.96% | Dec 2026 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Gurnee Mills | Gurnee, IL | Retail | $89.0M | 3.99% | Oct 2026 | 2.27x | 91% | Current |
| 625 North Michigan Avenue | Chicago, IL | Office | $50.6M | 4.63% | Mar 2026 | 1.33x | 64% | Past maturity and not performing |
| Mariano's - Bronzeville | Chicago, IL | Retail | $19.0M | 4.155% | Nov 2026 | n/a | n/a | Current |
| Cicero Industrial | Cicero, IL | Industrial | $16.7M | 4.25% | Nov 2026 | 3.22x | 93% | Current |
| 2233 South Throop Street | Chicago, IL | Industrial | $15.0M | 3.34% | Oct 2026 | 3.09x | 100% | Current |
| Ontario City Centre | Chicago, IL | Mixed use | $14.5M | 4.72% | Dec 2026 | 2.36x | 100% | Current |
All loans maturing in 2026 · All Chicago-Naperville-Elgin loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.