Updated Apr 24, 2026
Fakhouri Family Acquires Development Site At 219-233 West Ontario Street For $5,000,000
219 West Ontario Street
$5,000,000
$306/SF
Building Size
16,300 SF
Asset Type
Development Site
Closing
Apr 13, 2026
About this deal
AI
The property asset involved in the transaction is a development site located at 219-233 West Ontario Street in Chicago. The sale price for the asset is $5,000,000. The land area consists of 37,300 square feet of DX-7 zoned property, making it significant in the context of River North real estate.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,000,000
- Address: 219-233 West Ontario Street
- Market: Chicago
- Buyers: Sam Fakhouri, Odie Fakhouri, Luai Fakhouri, Gus Fakhouri, Mary Fakhouri & Suleiman Fakhouri - SOLG Properties
The Fakhouri Family, operating under SOLG Properties, has acquired this site and is actively working with developers to explore optimal uses for the property, which is positioned to enhance the River North skyline due to its size and zoning designation. For inquiries, Odie Fakhouri can be contacted at 312-731-7900.
On the Map
$5,000,000
$306/SF
Development Site
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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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93