Marcus & Millichap Acquires Development Site In Chicago For $2.6M
1935 South Michigan Avenue, Chicago, IL, USA
$2,600,000
$198/SF
Building Size
13,107 SF
Asset Type
Development Site
Closing
Jan 21, 2021
AI
The sale of a development site at 1935 S. Michigan Avenue in Chicago has been completed. The property spans 13,107 square feet and was sold for a total of $2,600,000, resulting in a price per square foot of $198. The transaction took place on January 22, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,600,000
- Address: 1935 S. Michigan Avenue, Chicago
- Market: Chicago
- Buyer's Representative: Dominic Sulo - Marcus & Millichap
- Seller's Representative: Drew Neems & Theron May - Imperial Realty Co.
- Square Footage: 13,107
- Price per Square Foot: $198
The buyer's representative for this transaction was Dominic Sulo from Marcus & Millichap, while the seller's representatives were Drew Neems and Theron May from Imperial Realty Co.
Players
Chicago Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93