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340 Linden Ave Wilmette, IL...

Wayfarer Foundation Acquires Commercial Building In Wilmette For $1.5M
SOLDCommercial

Wayfarer Foundation Acquires Commercial Building In Wilmette For $1.5M

340 Linden Ave Wilmette, IL 60091, USA

$1,525,000

$210/SF

Building Size

7,260 SF

Asset Type

Commercial

Closing

Aug 25, 2023

AI

A 7,260 square foot commercial building located at 340 Linden Avenue in the Wilmette's Linden Square commercial district has been sold for $1,525,000. The Wayfarer Foundation, represented by Steve Sarowitz, has acquired the property, which sits on a 10,000 square foot site. The building will serve as the foundation's future headquarters and is conveniently situated near the CTA Linden Purple Line station.

Summary of transation details

  • Property Type: Commercial
  • Transaction Amount: $1,525,000
  • Square Footage: 7,260
  • Price per Square Foot: $210
  • Address: 340 Linden Avenue, Wilmette, Illinois
  • Market: Wilmette

The sale of the commercial property at 340 Linden Avenue was facilitated by Wayne Caplan of SVN Chicago Commercial, who represented the seller. The buyer, Wayfarer Foundation, was represented by Steve Sarowitz. This transaction marks an important development for the foundation as they secure a new headquarters in Wilmette's thriving commercial district. The location's proximity to the CTA Linden Purple Line station provides convenient access for employees and visitors.

Players

Wayne Caplan

SVN

Broker

$59.9M

vol

13 deals

Broker

Steve Sarowitz

Buyer

$10.6M

vol

2 deals

Buyer

Wilmette Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.40%

Cash-on-Cash

-2.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93