LG Development Acquires 1.36 Acre Land In Fulton Market District For $32M
1143 West Lake Street, Chicago, IL 60607
$32,000,000
$1,768/SF
Building Size
18,100 SF
Asset Type
—
Closing
Sep 20, 2021
AI
Located in the Fulton Market District of Chicago, a 1.36-acre land at 1143 W. Lake St. has been sold in a closed transaction. The property, comprising of approximately 1.36 acres, was acquired for a price of $32,000,000.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $32,000,000
- Address: 1143 W. Lake St.
- Market: Fulton Market District, Chicago
- Acres: 1.36
- Price Per Acre: $23,529,412
The buyer in this transaction was LG Development. The deal was facilitated by Scott Maesel and Drew Dillon from the Urban Real Estate Team at SVN | Chicago Commercial.
Players
Chicago CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93