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:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 1400 Morse Avenue
- Market: Elk Grove Village
- Buyers: Dominic A. Sergi - Clear Height Properties; Michael Elizondo & Jeffrey Gandel - Long Wharf Capital
- Buyer's Representatives: Harrison Taylor, Mark Baumhart & Terry Herlihy - NAI Hiffman
- Seller's Representatives: Bill Lussow & Matt Kelly - Bespoke Commercial Real Estate
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
Elk Grove Village Industrial Market Snapshot
Boundary boundary · Industrial · Sale 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