Mixed use · Chicago, Illinois
900 North Michigan
Public CMBS trusts hold $180.0M of the loan on 900 North Michigan at 6.853% that reaches maturity on August 6, 2034, in 7 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $180,000,000
- Original balance (same notes)
- $180,000,000
- Interest rate
- 6.853% fixed
- Originated
- July 22, 2024
- Maturity
- August 6, 2034
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 5, 2034
- Master servicer
- Wells Fargo Bank, NA
- Originator
- GSBI
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 900 North Michigan Avenue, Chicago, IL 60611
- Metro
- Chicago-Naperville-Elgin, IL-IN
- Rentable area
- 831,350 sq ft
- Built
- 1988, renovated 2018
- Largest tenants
- Bloomingdale's; GCM Grosvenor L.P.; JMB Realty Corp.
- Value at securitization
- $315.0M (May 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.82x | 1.54x |
| Occupancy | 89% | 90% |
| Net operating income | $22.8M | $19.3M |
| Debt yield | 10.7% |
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 BBCMS Mortgage Trust 2024-C30 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
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 15% below the underwritten figure ($19.3M a year against $22.8M).
- Debt service coverage moved from 1.82x at securitization to 1.54x on the latest statements.
- The filing gives Sep 2028 as the lease end date for the largest tenant (Bloomingdale's), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $180.0M | Current | No | 1.54x | 90% |
| August 2026 | $180.0M | Current | No | 1.59x | 94% |
| July 2026 | $180.0M | Current | No | 1.59x | 94% |
| June 2026 | $180.0M | Current | No | 1.59x | 94% |
| May 2026 | $180.0M | Current | No | 1.75x | 94% |
| April 2026 | $180.0M | Current | No | 1.75x | 94% |
| March 2026 | $180.1M | Payment not received but still in grace period or not yet due | No | 1.75x | 94% |
| February 2026 | $180.0M | Payment not received but still in grace period or not yet due | No | 1.40x | 93% |
| January 2026 | $180.0M | Late payment but less than 30 days delinquent | No | 1.40x | 93% |
| December 2025 | $180.0M | Payment not received but still in grace period or not yet due | No | 1.56x | 94% |
| November 2025 | $180.0M | Late payment but less than 30 days delinquent | No | 1.56x | 94% |
| October 2025 | $180.0M | Late payment but less than 30 days delinquent | No | 1.56x | 94% |
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 5 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-C28 | 2 | $80,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2024-BNK48 | 10 | $45,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| Wells Fargo Commercial Mortgage Trust 2025-C64 | 11 | $25,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| Wells Fargo Commercial Mortgage Trust 2024-C63 | 15 | $20,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2024-C30 | 24 | $10,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Chicago-Naperville-Elgin loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| River East Garage | Chicago, IL | Other | $66.7M | 7.755% | Dec 2034 | n/a | n/a | Current |
| Phoenix | Phoenix, IL | Industrial | $38.8M | 6.21% | Oct 2034 | n/a | n/a | Current |
| Spark by Hilton O'Hare | Des Plaines, IL | Hotel | $8.4M | 7.535% | Nov 2034 | 2.68x | 70% | Current |
| Atrium Point | New Lenox, IL | Mixed use | $8.3M | 6.87% | Dec 2034 | n/a | n/a | Late, less than 30 days |
| 3122 Broadway | Chicago, IL | Mixed use | $5.1M | 7.005% | Jun 2034 | n/a | n/a | Current |
| Shops at Lily Cache Creek | Bolingbrook, IL | Retail | $4.0M | 6.20% | Sep 2034 | 1.61x | 87% | Current |
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.