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1840 S Elmhurst Rd, Mount P...

Updated Oct 29, 2024

Avison Young Brokers Sale Of Industrial Portfolio In Mount Prospect To FCA
SOLDIndustrial

Avison Young Brokers Sale Of Industrial Portfolio In Mount Prospect To FCA

1840 S Elmhurst Rd, Mount Prospect...

Building Size

190,000 SF

Asset Type

Industrial

Closing

Nov 22, 2023

About this deal

AI

The industrial portfolio located at 1840 S Elmhurst Rd, Mount Prospect, within Chicago's O'Hare submarket, has been sold. The portfolio spans 190,000 square feet and consists of four buildings. The buildings included in the portfolio are 501 Algonquin Road (62,344 square feet), 401-411 West Algonquin Road (15,278 square feet), and 1840-1864 and 1870-1894 South Elmhurst Road (56,182 square feet in each complex).

Summary of transaction details:

Erik Foster and Mike Wilson, representing Avison Young, facilitated the sale on behalf of the seller, Clear Height Properties. The industrial portfolio was 97 percent leased to tenants such as EPP Corp., Nikuni America, and Lapmaster International. The buyer of the property remains undisclosed at this time.

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Industrial

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Players

Mike Wilson

Avison Young

Broker

$98.9M

vol

9 deals

Broker
FCA
FCABuyer
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Mount Prospect 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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