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1549 Glenlake Ave, Itasca, ...

Updated Oct 29, 2024

Bulldog Cartage Leases Industrial Space At 1549 Glenlake Ave, Itasca
LEASEDIndustrial

Bulldog Cartage Leases Industrial Space At 1549 Glenlake Ave, Itasca

1549 Glenlake Ave, Itasca, IL, 60143

Building Size

78,161 SF

Asset Type

Industrial

Closing

Nov 22, 2023

About this deal

AI

The industrial property at 1549 Glenlake Avenue in Itasca, IL, spans 78,161 square feet and sits on 2.96 acres of land. The building features 6,283 square feet of recently renovated office space, four interior docks, one drive-in door, and parking space for 95 vehicles. This space was recently leased by Bulldog Cartage, a specialized logistics company based in Addison, to accommodate their storage, staging, and shipping operations.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Market: Itasca
  • Tenant: Bulldog Cartage
  • Tenant's Rep: Mike Antonelli
  • Landlord: Undisclosed
  • Square Feet: 78,161

Brown Commercial Group Partner Mike Antonelli, SIOR, along with President Dan Brown, represented Bulldog Cartage in securing this full-building lease at 1549 Glenlake Avenue in Itasca. The landlord for this transaction was represented by John D’Orazio and Jonathan Kohn of Colliers. Bulldog Cartage, known for its specialized logistics services, continues to expand its presence in the region with this latest lease agreement, showcasing its commitment to serving a diverse range of businesses with their shipping, storage, and handling needs.

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Players

Mike Antonelli

Broker

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Itasca Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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