LG Development Acquires 1.36 Acre Land In Fulton Market District For $32M
SOLD
$32,000,000
Illinois
See Similar Deals18,100 SF
Sold 09/20/2021
SOLD
LG Development Acquires 1.36 Acre Land In Fulton Market District For $32M
1143 West Lake Street, Chicago, IL 60607
See Similar Deals18,100 SF
Sold 09/20/2021
Summary
ILLINOIS
Price Per Square Foot:$1,768
Total Square Footage:18,100 SF
Transaction Type:Sale
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
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$113,689.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,696.33
Annual Debt Service$1,820,355.91
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