Office · Downers Grove, Illinois
3500 Lacey Road
Public CMBS trusts hold $85.8M of the loan on 3500 Lacey Road at 4.35% that reaches maturity on December 1, 2029, in 3 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $85,800,000
- Original balance (same notes)
- $85,800,000
- Interest rate
- 4.35% fixed
- Originated
- November 26, 2019
- Maturity
- December 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- January 31, 2022
- Prepayment premium ends
- August 31, 2029 (yield maintenance)
- Master servicer
- Midland
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Modified
- Yes, most recently February 18, 2022
- Defeasance
- Partly defeased
The property
- Address
- 3500 Lacey Road, Downers Grove, IL 60515
- Metro
- Chicago-Naperville-Elgin, IL-IN
- Rentable area
- 620,073 sq ft
- Built
- 1992, renovated 2018
- Largest tenants
- Health Care Service Corporation A Mutual; Glanbia Performance Nutrition Inc.(t0000905); Invesce Advisers Inc.(t0000911)
- Value at securitization
- $129.0M (Sep 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.56x | 2.39x |
| Occupancy | 97% | 95% |
| Net operating income (annualized from 6 months) | $9.7M | $18.2M |
| Debt yield | 21.3% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the Benchmark 2020-B17 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Modified
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Net operating income is 88% above the underwritten figure ($18.2M a year against $9.7M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.56x at securitization to 2.39x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $85.8M | Current | No | 2.39x | 95% |
| August 2026 | $85.8M | Current | No | 2.21x | 95% |
| July 2026 | $85.8M | Current | No | 2.21x | 95% |
| June 2026 | $85.8M | Current | No | n/a | n/a |
| May 2026 | $85.8M | Current | No | n/a | n/a |
| April 2026 | $85.8M | Current | No | 1.52x | 95% |
| March 2026 | $85.8M | Current | No | 1.52x | 95% |
| February 2026 | $85.8M | Current | No | 1.75x | 95% |
| January 2026 | $85.8M | Current | No | 1.75x | 95% |
| December 2025 | $85.8M | Current | No | 1.38x | 95% |
| November 2025 | $85.8M | Current | No | 1.38x | 95% |
| October 2025 | $85.8M | Current | No | 1.38x | 95% |
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.
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-B16 Mortgage Trust | 4 | $50,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| Benchmark 2020-B17 Mortgage Trust | 9 | $35,800,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Chicago-Naperville-Elgin loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Millennium Park Plaza | Chicago, IL | Mixed use | $210.0M | 3.66% | Aug 2029 | 1.66x | 73% | Current |
| 101 45th Street | Munster, IN | Industrial | $138.8M | 3.231% | Dec 2029 | n/a | n/a | Current |
| City Hyde Park | Chicago, IL | Multifamily | $108.7M | 4.70% | Oct 2029 | 1.03x | 83% | Current |
| 5452-5466 S. Ellis Avenue | Chicago, IL | Multifamily | $106.8M | 4.554% | Feb 2029 | n/a | n/a | Current |
| Lakeside Apartments | Lisle, IL | Multifamily | $70.0M | 4.935% | Mar 2029 | 1.98x | 95% | Current |
| Hilton Garden Inn & Canopy - Chicago Central Loop | Chicago, IL | Healthcare | $65.0M | 7.60% | Jun 2029 | 1.93x | 74% | Current |
| The Elston Retail Collection | Chicago, IL | Retail | $57.1M | 3.65% | Nov 2029 | 1.40x | 100% | With the special servicer |
| Solstice on the Park | Chicago, IL | Multifamily | $45.0M | 2.75% | Jul 2029 | 2.78x | 90% | Current |
All loans maturing in 2029 · 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.