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1437 Harmony Ct, Itasca, IL...

Marcus & Millichap Sell Industrial Asset On 1437 Harmony Ct, Itasca For $1.7M
SOLDIndustrial

Marcus & Millichap Sell Industrial Asset On 1437 Harmony Ct, Itasca For $1.7M

1437 Harmony Ct, Itasca, IL, 60143

$1,700,000

$108/SF

Building Size

15,700 SF

Asset Type

Industrial

Closing

Nov 22, 2023

AI

Located at 1437 Harmony Court, Itasca, Illinois, the industrial property spans 15,700 square feet and was recently sold for $1,700,000. The property was one of three buildings put up for sale, all of which were vacant at the time of the closing. The transaction, brokered by Marcus & Millichap, closed at 99 percent of the list price. The seller, a New York-based corporation, enlisted the exclusive services of Tammy A. Saia and Tami Andrew from Marcus & Millichap's Chicago Oak Brook office to market the property.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $1,700,000.00
  • Market: Itasca
  • Seller's Rep: Tami Andrew(Marcus & Millichap), Tammy Saia(Marcus & Millichap)
  • Buyer: Unknown
  • SF: 15700

The buyer of the property, an owner and end user, successfully acquired the industrial asset. Multiple offers were received for the property, indicating a competitive market for this real estate transaction in Itasca. The seamless deal, facilitated by the dedicated professionals at Marcus & Millichap, highlights the attractiveness of the property to potential buyers despite being vacant at the time of sale.

Players

Tammy Saia

Marcus & Millichap

Broker

$25.9M

vol

10 deals

Broker

Itasca 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

9.33%

Cash-on-Cash

-2.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93