Westport Properties U.S. Storage Centers Acquires Self Storage Asset In Chicago & Wilmette For $32M
SOLD
$32,000,000
Illinois
See Similar DealsSold 09/23/2022
SOLD
Westport Properties U.S. Storage Centers Acquires Self Storage Asset In Chicago & Wilmette For $32M
1516 North Orleans Street, Chicago, Illinois 60610, United States
See Similar DealsSold 09/23/2022
Summary
ILLINOIS
Transaction Type:Sale
The self storage property located at 1516 North Orleans Street in Chicago and 3510 Wilmette Avenue in Wilmette has been sold for $32,000,000. The sale was completed on 09/23/2022.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $32,000,000
Westport Properties U.S. Storage Centers purchased the property from Alex & Nik Turik, represented by HAN Capital. The transaction involved the sale of the self storage asset, located in both the Chicago and Wilmette markets.
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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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