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Nomad Investment Group, LLC Acquires Industrial Property In South Elgin For $2.7M
SOLD
$2,700,000
Illinois
See Similar DealsIndustrial21,627 SF
Sold 06/21/2023
SOLD
Nomad Investment Group, LLC Acquires Industrial Property In South Elgin For $2.7M
1790 Gilpen Ave South Elgin, IL 60177, USA
See Similar DealsIndustrial21,627 SF
Sold 06/21/2023
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$124
Total Square Footage:21,627 SF
Transaction Type:Sale
A truck maintenance facility in South Elgin has been sold for $2.7 million. The property, located at 1790 Gilpen Avenue, spans a total of 21,627 square feet. It features 20 drive-in doors, office space, and benefits from its convenient location with immediate access to I-90. The transaction was facilitated by Lee & Associates.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $2,700,000
- Square Footage: 21,627
- Address: 1790 Gilpen Avenue, South Elgin
- Market: South Elgin
Leading the deal were John M. Joyce, Kenneth Franzese, and John Cassidy of Lee & Associates. They represented the buyer, Nomad Investment Group, LLC, and the seller, Rock Investment Group, LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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