Updated Sep 5, 2024
Avison Young Brokers Sale Of 100,000 SF Industrial Portfolio In Chicago
4006 W Belden Ave, Chicago, IL, 60639
Building Size
100,000 SF
Asset Type
Industrial
Closing
Nov 22, 2023
About this deal
AI
The three-building industrial portfolio spanning 100,000 square feet in Chicago has been sold. The properties are located at 4006 W. Belden Ave., 2311 N. Keystone Ave., and 2321 N. Keystone Ave.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 4006 W Belden Ave, Chicago, IL, 60639
- Market: Chicago
- Seller's Reps: Patrick Richwine (Avison Young), Steven Kohn (Avison Young)
- Buyer: Chicago-based industrial investor
The seller, Eazypower Corp., was represented by Steven Kohn and Patrick Richwine of Avison Young in this transaction. Eazypower Corp. is moving to a new property in a northern suburb of Chicago. The buyer, a Chicago-based industrial investor, intends to undertake a substantial renovation of the acquired buildings.
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Industrial
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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