Mid-American Title Company Acquires Land In Niles, IL For $2.1M
7030 North Milwaukee Avenue, Niles, Illinois 60714, United States
$2,098,000
Building Size
—
Asset Type
—
Closing
Sep 14, 2022
About this deal
AI
A 1.79-acre land located at 7030-7042 Milwaukee Ave in Niles, IL was sold for a total of $2,098,000. The transaction took place on September 15, 2022. The land is situated in a market known as Niles, IL. The buyer's representative in this deal was Bill Bond from Mid-American Title Company, while the seller's representative was Owen Hayes from McLennan Commercial.
Summary of Transaction Details
- Property Type: Land
- Transaction Amount: $2,098,000
- Address: 7030-7042 Milwaukee Ave, Niles, IL
- Market: Niles, IL
- Acres: 1.79
Owen Hayes from McLennan Commercial and Bill Bond from Mid-American Title Company played instrumental roles as the seller's representative and buyer's representative respectively in this land sale.
Players
Niles 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
7.56%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93