Cory Kay & Michael DeSerto Finalize 10280 Square Foot Industrial Lease In South Elgin
345 Production Drive
Building Size
10,280 SF
Asset Type
Industrial
Closing
Oct 22, 2024
AI
The property asset involved in the transaction is a freestanding industrial facility located at 345 Production Drive in South Elgin, Illinois. It encompasses a total area of 10,280 square feet and is now designated for use as a secondary location focused on overflow warehousing and distribution.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 10,280
- Address: 345 Production Drive
- Market: South Elgin
- Lease Date: 10/22/2024
Cory Kay and Michael DeSerto from Entre Commercial Realty represented the client in finalizing the lease agreement. The property was on the market for less than 20 days before the successful leasing concluded.
Players
South Elgin 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