Updated Dec 4, 2024
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
About this deal
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:
- Property Type: Commercial
- Transaction Amount: $1,000,000
- Address: 5352 North Broadway
- Market: Chicago
- Square Footage: 5,000
- Price per Square Foot: $200
- Brokers: Marcus Sullivan & Tim Rasmussen - SVN Chicago Commercial
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.
On the Map
$1,000,000
$200/SF
Commercial
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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