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High Street Logistics Properties Acquires Industrial Property In Itasca For $36M

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SOLD
$36,000,000

Illinois

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Industrial252,000 SF
Sold 08/24/2022
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Property Image
SOLD

High Street Logistics Properties Acquires Industrial Property In Itasca For $36M

1455 West Thorndale Avenue, Itasca, Illinois 60143, United States

See Similar Deals
Industrial252,000 SF
Sold 08/24/2022
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Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$142
Total Square Footage:252,000 SF
Transaction Type:Sale

The industrial property located at 1455 West Thorndale Avenue in Itasca has been sold. The property spans across 252,000 square feet and was purchased for a total of $36,000,000. The sale price per square foot was $143. The transaction took place on August 24, 2022. The buyer of the property was High Street Logistics Properties, while the seller was Top-Line Furniture. The deal was facilitated by brokers Pat Sullivan and Eric Tresslar from NAI Hiffman.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $36,000,000
  • Address: 1455 West Thorndale Avenue
  • Market: Itasca
  • Buyer: High Street Logistics Properties
  • Seller: Top-Line Furniture
  • Brokers: Pat Sullivan & Eric Tresslar - NAI Hiffman
  • Square Footage: 252,000
  • Price per Square Foot: $143

Pat Sullivan and Eric Tresslar from NAI Hiffman played pivotal roles as the brokers in this transaction. Their expertise and negotiation skills were instrumental in facilitating the successful sale of the industrial property.

Players

Patrick Sullivan
2 deals$49.2M volume
BROKER

Eric Tresslar
NAI Global
2 deals$36M volume
BROKER

BUYER

Details

SOLD
IMAGE: Eric Tresslar & Pat Sullivan DATE: 08/24/2022 ADDRESS: 1455 West Thorndale Avenue MARKET: Itasca ASSET TYPE: Industrial BUYER: High Street Logistics Properties SELLER: Top-Line Furniture BROKERS: Pat Sullivan & Eric Tresslar - NAI Hiffman (@NAIHiffman) SALE PRICE: $36,000,000 SF: 252,000 ~ PPSF: $143

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,920,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40