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9320 Irving Park Rd, Schill...

Updated Oct 29, 2024

Wayne Caplan Represents Seller In $3M Sale To Out-of-State REIT In Schiller Park
SOLDCommercial

Wayne Caplan Represents Seller In $3M Sale To Out-of-State REIT In Schiller Park

9320 Irving Park Rd, Schiller Park, IL...

Building Size

—

Asset Type

Commercial

Closing

Nov 22, 2023

About this deal

AI

The property at 9320 Irving Park Road in Schiller Park, Illinois, was recently involved in a commercial sale. Wayne Caplan of SVN | Chicago Commercial represented the seller in this transaction. The Chase Bank ground lease at this location, with over 10 years remaining on the lease, attracted multiple offers. Eventually, the property was purchased by an out-of-state Real Estate Investment Trust (REIT) for over $3 million.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: Over $3 million
  • Address: 9320 Irving Park Rd, Schiller Park, IL
  • Market: Schiller Park
  • Seller's Representative: Wayne Caplan (SVN)
  • Buyer: Unknown Real Estate Investment Trust

The involvement of Wayne Caplan from SVN | Chicago Commercial was crucial in finalizing the sale of the property. The successful transaction, valued at over $3 million, highlights the demand for commercial properties with stable leases in the market. The buyer, an out-of-state REIT, saw the potential in this investment opportunity, leading to the completion of the deal.

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Players

Wayne Caplan

SVN

Broker

$61.4M

vol

14 deals

Broker
UT
Unknown Real Estate Investment TrustBuyer
Bilt advertisement

Schiller Park 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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