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211 Burlington Ave, Clarend...

Tierra Distilling Acquires Industrial Property On Burlington Ave In Clarendon Hills
SOLDIndustrial

Tierra Distilling Acquires Industrial Property On Burlington Ave In Clarendon Hills

211 Burlington Ave, Clarendon Hills, I...

Building Size

5,500 SF

Asset Type

Industrial

Closing

Nov 20, 2023

AI

The property involved in this transaction is an industrial asset located at 211 Burlington Ave, Clarendon Hills, Illinois. The building encompasses a total of 5,500 square feet and forms part of the Clarendon Hills market. It will be renovated into a new headquarters, tap room, and distillery for Tierra Distilling.

Summary of transaction details:

Trinity Scurto from the Brown Commercial Group represented the buyer, Tierra Distilling, while Matt Scales of @properties represented the seller, a private investor. This transaction fits within a larger context where Trinity Scurto completed three industrial building sales totaling nearly 50,000 square feet in the Chicago market.

Players

Matt Scales

At Properties Commercial

Broker

$21.2M

vol

4 deals

Broker

Clarendon Hills 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