Draper And Kramer Acquires Development Site In Chicago For $4.18M
863 North Orleans Street, Chicago, Illinois 60610, United States
$4,180,000
$290/SF
Building Size
14,378 SF
Asset Type
Development Site
Closing
Oct 26, 2022
AI
Draper and Kramer has acquired a development site located at 863 N Orleans St in Chicago. The property was sold by BlitzLake for a total sale price of $4,180,000. The site spans a total of 14,378 square feet, resulting in a price per square foot of $291.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,180,000
- BSF: 14,378
- PPBSF: $291
The transaction was facilitated by Tom Svoboda of CBRE, who represented the buyer, Draper and Kramer. BlitzLake was represented by their representative Tom Svoboda from CBRE.
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
3.79%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93