Lee & Associates Acquires Industrial Property In Addison For $3.1M
SOLD
$3,100,000
+ 2
Illinois
See Similar DealsIndustrial31,385 SF
Sold 05/18/2022
SOLD
Lee & Associates Acquires Industrial Property In Addison For $3.1M
345 S Fairbank St, Addison, IL 60101
See Similar DealsIndustrial31,385 SF
Sold 05/18/2022
+ 2
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$98
Total Square Footage:31,385 SF
Transaction Type:Sale
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.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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