KKR Acquires Industrial Property In Chicago Heights For $28M
SOLD
$28,000,000
Illinois
See Similar DealsIndustrial350,000 SF
Sold 03/16/2022
SOLD
KKR Acquires Industrial Property In Chicago Heights For $28M
1101 Arnold Street, Chicago Heights, Illinois 60411, United States
See Similar DealsIndustrial350,000 SF
Sold 03/16/2022
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$80
Total Square Footage:350,000 SF
Transaction Type:Sale
The industrial property located at 1101 Arnold Street in Chicago Heights has been sold for a price of $28,000,000. The property spans a total area of 350,000 square feet, resulting in a price per square foot of $80. The transaction was completed on March 16, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $28,000,000
- Square Footage: 350,000
- Price per Square Foot: $80
- Address: 1101 Arnold Street, Chicago Heights
- Market: Chicago Heights
The buyer in this transaction is KKR, represented by Joseph Bae, while SunTrust Equity Funding served as the seller. Joseph Bae from KKR played a key role as the buyer's representative in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,493,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42
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