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5001 Central Ave, Western S...

Lauren Walz Of Coldwell Banker Realty Represents Buyer In $1.2M Sale Of Development Site In Western Springs
SOLDDevelopment Site

Lauren Walz Of Coldwell Banker Realty Represents Buyer In $1.2M Sale Of Development Site In Western Springs

5001 Central Ave, Western Springs

$1,200,000

$301/SF

Building Size

3,982 SF

Asset Type

Development Site

Closing

Mar 8, 2021

AI

A development site located at 5001 Central Ave in Western Springs was recently sold for $1,200,000. The property spans 0.55 acres and has a building square footage of 3,982. The price per building square foot is $301, indicating a lucrative opportunity for potential development.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $1,200,000
  • Building Square Footage: 3,982
  • Price per Building Square Foot: $301
  • Address: 5001 Central Ave, Western Springs
  • Market: Western Springs

The buyer's representative in this deal was Lauren Walz from Coldwell Banker Realty, while the seller's representative was Cindy Metcalf from D'aprile Properties. The transaction took place on March 9, 2021.

Players

Lauren Walz

Coldwell Banker

Broker

$14.3M

vol

3 deals

Broker

Western Springs 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

13.22%

Cash-on-Cash

-3.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93