Office · Chicago, Illinois
One North Wacker
Public CMBS trusts hold $353.0M of the loan on One North Wacker at 2.719% that reaches maturity on October 1, 2031, in 4 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $353,000,000
- Original balance (same notes)
- $480,000,000
- Interest rate
- 2.719% fixed
- Originated
- September 10, 2021
- Maturity
- October 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ended
- December 31, 2023
- Prepayment premium ends
- May 31, 2031 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1 North Wacker Drive, Chicago, IL 60606
- Metro
- Chicago-Naperville-Elgin, IL-IN
- Rentable area
- 1,412,035 sq ft
- Built
- 2001
- Largest tenants
- PWC; UBS Americas Inc; BARNES & THORNBURG LLP
- Value at securitization
- $664.0M (Aug 2021)
Performance
| At securitization | Latest (Sep 2025) | |
|---|---|---|
| DSCR (NOI) | 3.21x | 4.16x |
| Occupancy | 81% | 91% |
| Net operating income (annualized from 3 months) | $31.3M | $40.5M |
| Debt yield | 11.5% |
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 BANK 2021-BNK36 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 risen from 81% when the loan was securitized to 91%.
- Net operating income is 30% above the underwritten figure ($40.5M a year against $31.3M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 3.21x at securitization to 4.16x on the latest statements.
- The filing gives Oct 2028 as the lease end date for the largest tenant (PWC), 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 | $353.0M | Current | No | 4.16x | 91% |
| August 2026 | $353.0M | Current | No | 4.16x | 91% |
| July 2026 | $353.0M | Current | No | 4.16x | 91% |
| June 2026 | $353.0M | Current | No | 4.16x | 91% |
| May 2026 | $353.0M | Current | No | 4.16x | 91% |
| April 2026 | $353.0M | Current | No | 3.95x | 92% |
| March 2026 | $353.0M | Current | No | 3.95x | 92% |
| February 2026 | $353.0M | Current | No | 3.95x | 92% |
| January 2026 | $358.5M | Current | No | 3.44x | 92% |
| December 2025 | $353.0M | Current | No | 3.44x | 92% |
| November 2025 | $353.0M | Current | No | 3.44x | 92% |
| October 2025 | $353.0M | Current | No | 3.44x | 92% |
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 8 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2021-BNK36 | 1 | $122,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2021-BNK37 | 1 | $80,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2021-BNK38 | 1 | $72,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BANK 2022-BNK39 | 10 | $23,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2021-BNK37 | 1A | $20,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2022-BNK39 | 10A | $15,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2021-BNK37 | 1B | $15,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2021-BNK36 | 1A | $5,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Chicago-Naperville-Elgin loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Harvard | Havard, IL | Industrial | $81.0M | 3.716% | Mar 2031 | n/a | n/a | Current |
| The Leo | Chicago, IL | Multifamily | $65.0M | 5.85% | Jun 2031 | n/a | n/a | Current |
| Meadowcreek | Melrose Park, IL | Manufactured housing | $60.0M | 5.98% | Apr 2031 | n/a | n/a | Current |
| Willow Glen | Willow Springs, IL | Multifamily | $58.0M | 6.263% | Jan 2031 | 1.06x | 94% | Current |
| Food4Less - Chicago Heights | Chicago Heights, IL | Retail | $47.0M | 3.165% | Jul 2031 | n/a | n/a | Current |
| Somerset I | Alsip, IL | Multifamily | $42.5M | 3.78% | Dec 2031 | n/a | n/a | With the special servicer |
| Mason Multifamily Portfolio | DeKalb, IL | Multifamily | $36.9M | 3.991% | Jul 2031 | 3.05x | 98% | Current |
| Amazon Chicago-Pullman | Chicago, IL | Industrial | $35.5M | 3.489% | Jan 2031 | 3.13x | 100% | Current |
All loans maturing in 2031 · 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.