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Brit Properties Acquires Three-Building Industrial Asset In Chicago For $13M

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SOLD
$13,000,000
Nick Stellas
Michael Milstead

Illinois

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Industrial246,000 SF
Sold
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SOLD

Brit Properties Acquires Three-Building Industrial Asset In Chicago For $13M

2425 West Barry Avenue

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Industrial246,000 SF
Sold
Nick Stellas
Michael Milstead
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$52
Total Square Footage:246000 SF
Transaction Type:Sale

Brit Properties, a Chicago industrial real estate firm, has acquired a three-building asset in Chicago. The property spans 82,000 square feet and was purchased for $13 million. It is located along the Chicago River's east bank and is occupied by Tampico Beverages and Beverage Flavors International. The acquisition was partially financed by Union National Bank of Elgin.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $13,000,000
  • Address: 2425 West Barry Avenue, 3150 & 3106 North Campbell Avenue, Chicago
  • Market: Chicago
  • Acres: 5
  • Square Footage: 82,000
  • Price per Square Foot: $159

Joel Friedland, representing Brit Properties, brokered the deal with the assistance of Michael Milstead and Nick Stellas from Hansen Realty. Union National Bank provided financing for the acquisition.

Players

Nick Stellas
Hansen Realty
Nick Stellas
1 deal$13M volume
BROKER
Michael Milstead
Hansen Realty
Michael Milstead
1 deal$13M volume(773) 880-7388
BROKER
Union National Bank
Union National Bank
LENDER

Details

SOLD
IMAGE: Michael Milstead, Joel Friedland & Nick Stellas DATE: 10/26/2023 ADDRESS: 2425 West Barry Avenue, 3150 & 3106 North Campbell Avenue MARKET: Chicago ASSET TYPE: Industrial ~ ACRES: 5 BUYER: Brit Properties - Joel Friedland BROKERS: Michael Milstead & Nick Stellas - Hansen Realty LENDER: Union National Bank SALE PRICE: $13,000,000 SF: 82,000 ~ PPSF: $159 NOTE: Brit Properties, a Chicago industrial real estate firm, acquired a three-building asset spanning 82,000 square feet for $13 million. The site, located along the Chicago River's east bank, is occupied by Tampico Beverages and Beverage Flavors International, and the acquisition was partially financed by Union National Bank of Elgin.

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Debt Service Coverage Ratio (DSCR)

0.94x

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