FullG Capital Acquires Hotel In Chicago For $55M
20 East Delaware Place, Chicago, IL 60611
$55,000,000
$6,959/SF
Building Size
7,903 SF
Asset Type
Hotel
Closing
Oct 6, 2021
About this deal
AI
The Hotel located at 20 E Delaware Pl in Chicago was recently sold for $55,000,000. The transaction took place on 10/06/2021. The property was purchased by FullG Capital from the sellers, Sterling Bay Co., Conlon & Co., Geolo Capital, John Cusack, and Chris Chelios. The hotel consists of 178 keys, and the price per key was $308,988.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $55,000,000
- Address: 20 E Delaware Pl, Chicago
- Market: Chicago
FullG Capital acted as the buyer in this transaction, while Sterling Bay Co., Conlon & Co., Geolo Capital, John Cusack, and Chris Chelios represented the sellers. The sale of the hotel highlights the successful collaboration between the involved parties in the Chicago real estate market.
Players
Chicago Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93