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1400 Morse Avenue

Clear Height Properties And Long Wharf Capital Acquire Industrial Building In Elk Grove Village
SOLDIndustrial

Clear Height Properties And Long Wharf Capital Acquire Industrial Building In Elk Grove Village

1400 Morse Avenue

Building Size

91,937 SF

Asset Type

Industrial

Closing

Dec 6, 2024

AI

1400 Morse Avenue is a 91,937-square-foot industrial building located in Elk Grove Village, Illinois, within Chicago's O'Hare Submarket. The property features 20-foot ceilings, 9,700 square feet of office/showroom space, and includes 8 dock-high doors. It also provides parking for nearly 100 vehicles.

Summary of transation details:

Clear Height Properties and Long Wharf Capital completed the acquisition of this industrial asset, showcasing a strategic investment in the Elk Grove Village market. The transaction was facilitated by the representatives from NAI Hiffman for the buyers and Bespoke Commercial Real Estate for the seller.

Players

Bill Lussow

Bespoke Commercial Real Estate

Broker

3 deals

Broker
Lee & Associates
Lee & AssociatesBrokerage

Elk Grove Village Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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