Honore Properties Acquires Development Site In Chicago From Archdiocese Of Chicago For $1.2M
SOLD
$1,175,000
Illinois
See Similar DealsDevelopment Site12,400 SF
Sold 12/17/2021
SOLD
Honore Properties Acquires Development Site In Chicago From Archdiocese Of Chicago For $1.2M
1218 West Lexington Street, Chicago, IL 60607
See Similar DealsDevelopment Site12,400 SF
Sold 12/17/2021
Summary
ILLINOIS
Asset Type:Development Site
Price Per Square Foot:$94
Total Square Footage:12,400 SF
Transaction Type:Sale
A development site located at 1218 W Lexington St in Chicago has been sold for a transaction price of $1,175,000. The property spans 12,400 square feet and has a price per buildable square foot (PPBSF) of $95. The sale was completed on December 17, 2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,175,000
- Market: Chicago
- Address: 1218 W Lexington St
The buyer of the property is Honore Properties, while the seller is the Archdiocese of Chicago. The transaction was facilitated by brokers Tyler Dechter, Ari Topper, and Owen Wiesner from Baum Realty.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$62,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,174.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,570.10
Annual Debt Service$66,841.19
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