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PSP Partners Acquires Industrial Property In Waukegan For $19.5M

Property Image
SOLD
$19,500,000

Illinois

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Industrial173 SF
Sold 06/01/2023
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Property Image
SOLD

PSP Partners Acquires Industrial Property In Waukegan For $19.5M

1535 South Lakeside Drive, Waukegan, Illinois 60085, United States

See Similar Deals
Industrial173 SF
Sold 06/01/2023
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Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$112,716
Total Square Footage:173 SF
Transaction Type:Sale

The industrial property located at 1535 South Lakeside Drive in Waukegan has been sold. The transaction took place on January 6, 2023. The property, spanning 173,000 square feet, was sold for a total price of $19,500,000, resulting in a price per square foot of $113. The buyer was PSP Partners, represented by Penny Pritzker. The seller was Thermoflex, represented by Robert Price.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $19,500,000
  • Date: 01/06/2023
  • Address: 1535 South Lakeside Drive, Waukegan
  • Market: Waukegan
  • Buyer: PSP Partners - Penny Pritzker
  • Seller: Thermoflex - Robert Price
  • Square Footage: 173,000
  • Price per Square Foot: $113

Penny Pritzker, representing PSP Partners, acted as the buyer in this transaction, while Robert Price, representing Thermoflex, acted as the seller. This sale represents a significant deal in the industrial property market in Waukegan.

Players

2 deals$19.5M volume
BUYER

Details

SOLD
IMAGE: Robert Price & Penny Pritzker DATE: 01/06/2023 ADDRESS: 1535 South Lakeside Drive MARKET: Waukegan ASSET TYPE: Industrial BUYER: PSP Partners - Penny Pritzker (@SecPritzker) SELLER: Thermoflex - Robert Price SALE PRICE: $19,500,000 SF: 173,000 ~ PPSF: $113

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

$1,039,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38