Updated Oct 29, 2024
601W Companies Secures $27M Loan For Industrial Property On S Desplaines St
717 South Desplaines Street
$27,000,000
$232/SF
Building Size
116,000 SF
Asset Type
Industrial
Closing
Feb 4, 2021
About this deal
AI
The industrial property located at 717 – 737 S Desplaines Street in Chicago has recently undergone a closed transaction. The property spans across 4.6 acres and belongs to the landlord, 601W Companies.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $27,000,000
- Lender: Maxim Capital Group - Adam S Glick
- Brokers: Meridian Capital Group
The lender involved in this transaction is Maxim Capital Group, represented by Adam S Glick. The brokers facilitating the deal are Meridian Capital Group.
The industrial loan at 717 South Desplaines Street in Chicago, Illinois financed for $27M in 2021. The building is 116,000 square feet, implying about 232 per square foot on the published price. This page is the Chicago, Illinois file for the 717 South Desplaines Street industrial financed: pricing, party profiles, and other closed industrial comps from the same Chicago sit in the Market section below. Filter that Chicago industrial set by closing date to see what else financed near 717 South Desplaines Street around 2021. Published consideration for 717 South Desplaines Street is $27M, dated 2021. Cite this 601W Companies Secures $27M Loan For Industrial Property On S Desplaines St loan when underwriting similar industrial product around Chicago, Illinois.
Players
Chicago Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93