CMK Companies Acquires Development Site On South Wabash Avenue In Chicago For $5.5M
1624 South Wabash Avenue, Chicago, Illinois 60616, United States
$5,500,000
Building Size
—
Asset Type
Development Site
Closing
Nov 11, 2022
AI
A development site located at 1624-1704 South Wabash Avenue in Chicago has been sold for $5,500,000. The sale was finalized on November 11, 2022. The property is a development site, offering potential for future construction projects.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,500,000
- Market: Chicago
- Buyer: CMK Companies - Colin Kihnke
- Image: Colin Kihnke
- Date: 11/11/2022
- Address: 1624-1704 South Wabash Avenue
CMK Companies represented by Colin Kihnke acquired the development site at 1624-1704 South Wabash Avenue. The purchase was completed on November 11, 2022, for a total of $5,500,000. The site offers great potential for future development projects in the Chicago market.
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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93