Doorage Leases 21627 Square Feet At 801 Chase Ave From Westmount Realty Capital
801 Chase Ave, Elk Grove Village, IL...
Building Size
21,627 SF
Asset Type
Commercial
Closing
Nov 19, 2023
AI
The property involved in this transaction is a warehouse located at 801 Chase Ave, Elk Grove Village, IL, consisting of 21,627 square feet. This asset is part of the Elk Grove Village market and will serve as the first warehouse for Doorage, a start-up offering on-demand self-storage services.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 801 Chase Avenue, Elk Grove Village, IL
- Square Feet: 21,627
- Tenant: Doorage
- Landlord: Westmount Realty Capital
- Tenant's Rep: Mason Hezner
- Landlord's Reps: Andrew Maletich & Howard Bergdoll - Cawley Chicago
Mason Hezner represented the tenant, Doorage, which aims to expand its business in the Chicago area and beyond. The landlords, Westmount Realty Capital, expressed intent to work with Doorage in facilitating future expansions to larger facilities. Andrew Maletich and Howard Bergdoll acted as the representatives for Westmount Realty Capital in this transaction.
Players
Elk Grove Village Commercial Market Snapshot
Boundary boundary · Commercial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93