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Residential Developer Acquires Industrial Property At 1802-1806 W Chicago Ave For $1.3M
SOLD
$1,300,000
Illinois
See Similar DealsIndustrial6,200 SF
Sold 05/07/2025
SOLD
Residential Developer Acquires Industrial Property At 1802-1806 W Chicago Ave For $1.3M
1806 West Chicago Avenue
See Similar DealsIndustrial6,200 SF
Sold 05/07/2025
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$209
Total Square Footage:6,200 SF
Transaction Type:Sale
An industrial property located at 1802-1806 West Chicago Avenue in the West Town market of Chicago sold for $1,300,000. The property encompasses 6,200 square feet, resulting in a price per square foot of $210.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,300,000
- Address: 1802-1806 West Chicago Avenue
- Market: West Town, Chicago
- Square Footage: 6,200
- Price Per Square Foot: $210
This transaction was brokered by Marcus Sullivan and Tim Rasmussen of SVN Chicago Commercial. The property was acquired by a residential developer with intentions for conversion, driven by the area's increased demand and its ongoing transformation into a residential and retail corridor.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$69,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,618.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,162.66
Annual Debt Service$73,951.96
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