Penske Acquires Melrose Park Industrial Property For $15.4M
SOLD
Illinois
See Similar DealsIndustrial
Sold 08/26/2022
SOLD
Penske Acquires Melrose Park Industrial Property For $15.4M
2050 North Mannheim Road, Melrose Park, Illinois 60160, United States
See Similar DealsIndustrial
Sold 08/26/2022
Summary
ILLINOIS
Asset Type:Industrial
Transaction Type:Sale
The industrial property located at 2050 North Mannheim Road in Melrose Park has been sold for a price of $15,400,000. Spanning across 6 acres, this property offers ample space for various industrial activities.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15,400,000
- Address: 2050 North Mannheim Road, Melrose Park
- Market: Melrose Park
- Size: 6 acres
Penske, represented by Roger Penske, acquired the property from Timber Hill Group, represented by Cary Goldman. The purchase of this industrial asset presents a strategic investment opportunity for Penske, allowing them to expand their presence and operations in Melrose Park.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$821,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$54,712.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,003.86
Annual Debt Service$876,046.28
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