John McDermott Represents Seller In Sale Of 4417 S Springfield Ave Chicago For $2M
SOLD
$2,000,000
Illinois
See Similar DealsIndustrial44,500 SF
SOLD
John McDermott Represents Seller In Sale Of 4417 S Springfield Ave Chicago For $2M
4417 S Springfield Ave, Chicago, IL, 6...
See Similar DealsIndustrial44,500 SF
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$44
Total Square Footage:44,500 SF
Transaction Type:Sale
The industrial building located at 4417 S. Springfield Avenue in Chicago’s Archer Heights neighborhood has a total area of 44,500 square feet and was sold for $2,000,000. This property is situated in the Chicago market and is noted for its significant loading capacity.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,000,000.00
- Address: 4417 S Springfield Ave, Chicago, IL
- Square Footage: 44,500
- Seller's Representative: John McDermott
- Buyer's Identity: Unknown
Beverly Hayes and John McDermott of SVN Chicago Commercial were instrumental in representing the seller during this transaction. The sale was completed within a six-month timeframe despite environmental hurdles that complicated the process. The buyer, a local company, chose the property primarily due to its advantageous location.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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