Hillwood Acquires Industrial Property In Monee For $50.3M
SOLD
$50,300,000
Illinois
See Similar DealsIndustrial879,040 SF
Sold 11/19/2020
SOLD
Hillwood Acquires Industrial Property In Monee For $50.3M
25101 South Ridgeland Avenue
See Similar DealsIndustrial879,040 SF
Sold 11/19/2020
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$57
Total Square Footage:879,040 SF
Transaction Type:Sale
An industrial property in Monee, located at 25101 S. Ridgeland Avenue, has been sold for a price of $50,300,000. The property spans 879,040 square feet, resulting in a price per square foot of $57. Situated on 61 acres, the price per acre amounts to $824,590. The transaction took place on November 20, 2020.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $50,300,000
- Address: 25101 S. Ridgeland Avenue
- Square Footage: 879,040
- Price per Square Foot: $57
- Acres: 61
- Price per Acre: $824,590
The buyer of the property is Hillwood, while the sellers are DeBartolo Development LLC and Location Finders International. The transaction was facilitated by brokers Traci Payette and Stephanie Park from CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,682,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$178,705.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$238,447.66
Annual Debt Service$2,861,371.94
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