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801 Chase Ave, Elk Grove Vi...

Doorage Leases 21627 Square Feet At 801 Chase Ave From Westmount Realty Capital
LEASEDCommercial

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:

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

Mason Hezner

Brown Commercial Group

Broker

$5.7M

vol

17 deals

Broker
Westmount Realty Capital
Westmount Realty CapitalBrokerage

Elk Grove Village Commercial Market Snapshot

Boundary boundary · Commercial · Lease transactions

Loading comparables…

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