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685 Lunt Ave, Elk Grove Vil...

685 Lunt, LLC Acquires Industrial Property In Elk Grove Village, IL For $1.35M
SOLDIndustrial

685 Lunt, LLC Acquires Industrial Property In Elk Grove Village, IL For $1.35M

685 Lunt Ave, Elk Grove Village, IL, 60...

Building Size

13,500 SF

Asset Type

Industrial

Closing

Nov 20, 2023

AI

The property involved in the transaction is an industrial asset located at 685 Lunt Ave, Elk Grove Village, IL. The building spans 13,500 square feet and consists of two 6,750-square-foot units. One unit is currently leased to a trade show company, while the other unit will be occupied by It’s a Wonderful Light, LLC, a holiday lighting installation company.

Summary of transaction details:

Mason Hezner from Brown Commercial Group served as the buyer's representative for this transaction, representing both the buyer, 685 Lunt, LLC, and the seller, 685 Lunt Avenue, LLC. The sale marks a notable transaction in the Chicago suburban market, showcasing the continued strength of the industrial sector despite challenges posed by the pandemic. Additionally, the building's division into two distinct units and the diverse tenants further add to the property's appeal in the market.

Players

Mason Hezner

Brown Commercial Group

Broker

$5.7M

vol

17 deals

Broker
6L
685 Lunt Avenue, LLCSeller

Elk Grove Village Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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