Westport Properties U.S. Storage Centers Acquires Self Storage Asset In Chicago & Wilmette For $32M
1516 North Orleans Street, Chicago, Illinois 60610, United States
$32,000,000
Building Size
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Asset Type
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Closing
Sep 22, 2022
AI
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.
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