Updated May 12, 2025
Steve Panko's 2625 Butterfield LLC Acquires Industrial Asset From Pillar Properties In Oak Brook
2625 Butterfield Road
Building Size
214,000 SF
Asset Type
Industrial
Closing
Apr 25, 2025
About this deal
AI
Chicago-based 2625 Butterfield LLC acquired a 214,000 square foot industrial building located at 2625 Butterfield Road in Oak Brook. The transaction involves an asset that is currently 82% leased and will undergo HVAC upgrades, with considerations for potential retail redevelopment.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 2625 Butterfield Road
- Market: Oak Brook
- Asset Size: 214,000 SF
- Buyer: Steve Panko - 2625 Butterfield LLC
- Seller: Pillar Properties LLC
- Broker: Matthew Tarshis - Frontline Real Estate Partners
Matthew Tarshis from Frontline Real Estate Partners represented the deal, facilitating the transaction between the buyer, 2625 Butterfield LLC, and seller, Pillar Properties LLC. CBRE has been selected for leasing efforts post-acquisition.
On the Map
Industrial
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Oak Brook 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