Exeter Property Group Acquires Industrial Asset In Chicago From Blackstone For $65.8M
18801 Oak Park Avenue, Tinley Park, Illinois 60477, United States
$65,800,000
$71/SF
Building Size
915,640 SF
Asset Type
Industrial
Closing
Jan 11, 2022
AI
An industrial property located at 18801 Oak Park Avenue in Chicago has been sold in a recent transaction. The property, spanning 915,640 square feet, was acquired by Exeter Property Group for a total sale price of $65,800,000. The sale price per square foot was $72. The transaction took place on January 11, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $65,800,000
- Address: 18801 Oak Park Avenue, Chicago
- Square Footage: 915,640
- Sale Price per Square Foot: $72
- Buyer: Exeter Property Group - Edward Fitzgerald
- Seller: Blackstone - Stephen Schwarzman
Edward Fitzgerald of Exeter Property Group represented the buyer in the transaction, while Stephen Schwarzman of Blackstone represented the seller.
Tinley Park 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93