Penske Acquires Melrose Park Industrial Property For $15.4M
2050 North Mannheim Road, Melrose Park, Illinois 60160, United States
$15,400,000
Building Size
—
Asset Type
Industrial
Closing
Aug 25, 2022
AI
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.
Players
Melrose 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
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93