Updated Oct 28, 2024
Lee & Associates Acquires Industrial Property In Addison For $3.1M
345 S Fairbank St, Addison, IL 60101
$3,100,000
$98/SF
Building Size
31,385 SF
Asset Type
Industrial
Closing
May 17, 2022
About this deal
AI
An industrial property located at 345 S. Fairbank St in Addison has been sold for a price of $3,100,000. The property spans 31,385 square feet, resulting in a price per square foot of $99. The transaction took place on May 18, 2022. Clear Height Properties sold the property in the Addison market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,100,000
- Address: 345 S. Fairbank St
- Market: Addison
- Square Footage: 31,385
- Price per Square Foot: $99
The buyer's representatives in this deal were Brent DeNoble and Doug Altenberger from Lee & Associates. The seller's representatives were Justin Lerner, Joe Karmin, and Ross Lehrman from Transwestern. These individuals played a significant role in facilitating the transaction between Clear Height Properties and the buyer. The deal was completed successfully, resulting in the sale of the industrial property.
On the Map
$3,100,000
$98/SF
Industrial
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Players
Addison 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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93