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502 S Westgate St, Addison,...

Private Investor Acquires Industrial Asset From Pat Mooney Saws In Addison
SOLDIndustrial

Private Investor Acquires Industrial Asset From Pat Mooney Saws In Addison

502 S Westgate St, Addison, IL, 60101

Building Size

15,600 SF

Asset Type

Industrial

Closing

Nov 20, 2023

AI

An industrial building spanning 15,600 square feet located at 502 S. Westgate St, Addison, IL, 60101, in the Addison market was recently sold in a transaction.

Summary of transaction details:

Brown Commercial Group, Inc. represented Pat Mooney Saws in the disposition of the industrial building at 502 S. Westgate Drive. The seller was represented by Matt Hanson and Mike Antonelli. This marked Antonelli's fourth transaction for Pat Mooney Saws, following a previous building acquisition at 25 W. Official Road. Pat Mooney Saws, a distributor and importer of metal sawing machinery, decided to leverage the strong investment market and sell excess space that did not align with their current needs.

Players

Ross Lehrman

Transwestern

Broker

$11.4M

vol

3 deals

Broker

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93