Ian Feinerman Of AT Properties Commercial Represents Buyer In $2.3M Sale At 1759 W Grand Ave
1759 W Grand Ave, Chicago, IL, 60622
$2,300,000
$200/SF
Building Size
11,500 SF
Asset Type
Industrial
Closing
Nov 19, 2023
AI
An 11,500-square-foot industrial building located at 1759 W Grand Ave, Chicago, IL 60622 was sold for $2,300,000. The property is situated in Chicago's West Town neighborhood, specifically in the Grand Avenue Design District. This single-story, bow truss timber loft warehouse features built-out offices, a kitchenette, a break room, a conference room, and bathrooms. The building previously served as the location for Dr. Graphx, a graphic arts service business.
Summary of transaction details:
- Property Type: Industrial Building
- Transaction Amount: $2,300,000.00
- Address: 1759 W Grand Ave, Chicago, IL, 60622
- Buyer’s Representative: Ian Feinerman - AT Properties Commercial
- Seller’s Representative: Denis Ascot - Ascot Realty Group
- Market: Chicago
Denis Ascot, the executive vice president at Ascot Realty Group, represented the seller in this transaction, while Ian Feinerman from @properties represented the owner/user buyer. The deal highlights the activity within the industrial real estate sector, particularly in the West Town area of Chicago.
Players
Chicago 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93