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GC Realty & Development Acquires Industrial Property In Lake Forest For $6.85M

Property Image
SOLD
$6,850,000

Illinois

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Industrial122,502 SF
Sold 10/11/2023
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Property Image
SOLD

GC Realty & Development Acquires Industrial Property In Lake Forest For $6.85M

13801 West Laurel Drive & 13825 West Laurel Drive

See Similar Deals
Industrial122,502 SF
Sold 10/11/2023
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$55
Total Square Footage:122,502 SF
Transaction Type:Sale

The industrial property located at 13801-13825 West Laurel Drive in Lake Forest, IL has been sold for a price of $6,850,000. The property spans a total of 61,251 square feet, resulting in a price per square foot of $112.

Summary of transaction details

  • Property Type: Industrial
  • Sale Price: $6,850,000
  • Square Footage: 61,251
  • Price per Square Foot: $112
  • Address: 13801-13825 West Laurel Drive, Lake Forest, IL

The buyer's representative in this transaction was Ian Pattison from GC Realty & Development, LLC. The buyer was motivated by the significant rise in lease rates and decided to consolidate multiple locations into this new headquarters facility. It is worth noting that the property had previously been part of several portfolio sales in the past few years and was recently recapitalized, adding another layer of complexity to this deal. Many thanks to everyone involved in facilitating this transaction.

Players

Ian Pattison
GC Realty & Development
Ian Pattison
2 deals$6.9M volume
BROKER

Details

SOLD
IMAGE: Ian Pattison DATE: 10/11/2023 ADDRESS: 13801-13825 West Laurel Drive MARKET: Lake Forest, IL ASSET TYPE: Industrial BUYER'S REP: Ian Pattison - GC Realty & Development, LLC (@Gcrd_closed) SALE PRICE: $6,850,000 SF: 61,251 ~ PPSF: $112 NOTE FROM BUYER'S REP: Buyers motivated by significant rise in lease rates are consolidating multiple locations into this new HQ facility. Property was apart of several portfolio sales in the past few years and was recently recapitalized, adding another layer of complexity to this deal. Many thanks to everyone involved!

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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