Updated Dec 4, 2024
Brit Properties Acquires Three-Building Industrial Asset In Chicago For $13M
2425 West Barry Avenue, 3150 North Campbell Avenue & 3106 North Campbell Avenue
$13,000,000
$52/SF
Building Size
82,000 SF
Asset Type
Industrial
Closing
Oct 26, 2023
About this deal
AI
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
Chicago 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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93