Trammell Crow Acquires Development Site In Chicago For $77M
SOLD
$77,000,000
Illinois
See Similar DealsDevelopment Site
Sold 08/15/2022
SOLD
Trammell Crow Acquires Development Site In Chicago For $77M
1112 West Carroll Avenue, Chicago, Illinois 60612, United States
See Similar DealsDevelopment Site
Sold 08/15/2022
Summary
ILLINOIS
Asset Type:Development Site
Transaction Type:Sale
A development site located at 1112 West Carroll & 315 North May Street in Chicago has been sold for a total of $77,000,000. The transaction took place on 08/15/2022.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $77,000,000
- Buyer: Trammell Crow - Mike Lafitte
Trammell Crow, represented by Mike Lafitte, purchased the development site in Chicago. The property is located at 1112 West Carroll & 315 North May Street. The sale price for the transaction was $77,000,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$273,564.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$365,019.28
Annual Debt Service$4,380,231.40
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