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5352 North Broadway

SVN Chicago Commercial Brokers $1M Sale Of Restaurant Space In Chicago's Edgewater Neighborhood
SOLDCommercial

SVN Chicago Commercial Brokers $1M Sale Of Restaurant Space In Chicago's Edgewater Neighborhood

5352 North Broadway

$1,000,000

$200/SF

Building Size

5,000 SF

Asset Type

Commercial

Closing

Oct 3, 2023

AI

The $1 million sale of a 5,000-square-foot commercial building and restaurant space at 5352 N. Broadway in Chicago's Edgewater neighborhood has been brokered by SVN Chicago Commercial. The property, formerly known as Pearl's, was purchased by a local restaurant buyer. It is located across from the CTA's Red/Purple Line modernization project.

Summary of transaction details:

SVN Chicago Commercial played a key role in facilitating this transaction, connecting the local restaurant buyer with the opportunity to acquire the property. Marcus Sullivan and Tim Rasmussen, representatives of SVN Chicago Commercial, were instrumental in guiding the deal to completion.

Players

Marcus Sullivan

SVN

Broker

$10.3M

vol

6 deals

Broker

Chicago Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

15.86%

Cash-on-Cash

-4.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93