Updated Oct 28, 2024
Honore Properties Acquires Development Site In Chicago From Archdiocese Of Chicago For $1.2M
1218 West Lexington Street, Chicago, IL 60607
$1,175,000
$94/SF
Building Size
12,400 SF
Asset Type
Development Site
Closing
Dec 17, 2021
About this deal
AI
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
Chicago Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.50%
Cash-on-Cash
-3.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93