Retail · Chicago, Illinois
901 West Madison
901 West Madison is financed with a $4.9M CMBS loan at 5.35% that reaches maturity on August 1, 2028, in 21 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $4,931,197
- Original balance (same notes)
- $5,150,000
- Interest rate
- 5.35% fixed
- Originated
- August 1, 2018
- Maturity
- August 1, 2028
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- March 31, 2028
- Master servicer
- Wells Fargo
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred April 4, 2025, returned June 23, 2026
- Workout strategy
- Resolved
- Defeasance
- None reported
The property
- Address
- 901 W. Madison Street, Chicago, IL 60607
- Metro
- Chicago-Naperville-Elgin, IL-IN
- Rentable area
- 16,052 sq ft
- Built
- 2007
- Largest tenants
- Domino's; SweatHouz; MyEyeDr.
- Value at securitization
- $7.6M (Jun 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.33x | 1.30x |
| Occupancy | 100% | 77% |
| Net operating income | $459K | $449K |
| Debt yield | 9.1% |
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 Morgan Stanley Capital I Trust 2018-L1 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Occupancy down 10 points 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
- Occupancy has fallen from 100% when the loan was securitized to 77%.
- The most recent valuation in the filing is $7.4M (September 3, 2025), against $7.6M at securitization.
- The filing gives Jun 2028 as the lease end date for the largest tenant (Domino'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 | $4.9M | Current | No | 1.30x | 77% |
| August 2026 | $4.9M | Current | No | 1.30x | 77% |
| July 2026 | $4.9M | Current | No | n/a | n/a |
| June 2026 | $4.9M | Current | Yes | n/a | n/a |
| May 2026 | $5.0M | Current | Yes | n/a | n/a |
| April 2026 | $5.0M | Current | Yes | 0.75x | n/a |
| March 2026 | $5.0M | Current | Yes | 0.75x | n/a |
| February 2026 | $5.0M | Current | Yes | 0.75x | n/a |
| January 2026 | $5.0M | Current | Yes | 0.75x | n/a |
| December 2025 | $5.0M | Current | Yes | 0.75x | n/a |
| November 2025 | $5.0M | Current | Yes | 0.75x | n/a |
| October 2025 | $5.0M | Current | Yes | n/a | n/a |
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 April 4, 2025, returned to the master servicer June 23, 2026.
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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2018-L1 | 41 | $4,931,197 | Sep 2026 | SEC filing, October 2, 2026 |
Other Chicago-Naperville-Elgin loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 333 S Wabash | Chicago, IL | Office | $99.7M | 3.53% | Sep 2028 | 1.70x | 81% | Current |
| Westbrook Corporate Center | Westchester, IL | Office | $86.4M | 4.86% | Jun 2028 | 1.30x | 68% | With the special servicer and 90+ days delinquent |
| Continental Towers | Rolling Meadows, IL | Office | $84.5M | 4.75% | Sep 2028 | 0.31x | 53% | With the special servicer and 90+ days delinquent |
| Executive Towers West | Downers Grove, IL | Office | $54.2M | 4.85% | Aug 2028 | 1.23x | 63% | Current |
| The Buckingham | Chicago, IL | Multifamily | $42.3M | 5.522% | Aug 2028 | 1.18x | n/a | With the special servicer and 90+ days delinquent |
| Oak Creek Center | Lombard, IL | Office | $34.6M | 4.80% | Mar 2028 | n/a | n/a | Current |
| One Parkway North Fee | Deerfield, IL | Other | $24.5M | 4.282% | Jan 2028 | 1.91x | 81% | With the special servicer and 90+ days delinquent |
| Willows Hotel Chicago | Chicago, IL | Hotel | $20.7M | 5.155% | Jan 2028 | n/a | n/a | Current |
All loans maturing in 2028 · 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.