Updated Oct 29, 2024
Venture One Real Estate Acquires Niles Property At 6900 N Austin Ave With Seller's Rep Christopher Volkert
6900 N Austin Ave, Niles, IL, 60714
Building Size
179,508 SF
Asset Type
Industrial
Closing
Nov 19, 2023
About this deal
AI
The property asset involved in the transaction is a 179,508-square-foot industrial building located at 6900 N Austin Ave, Niles, IL, 60714. This property is fully leased to one tenant and was constructed in 1980. It features a clear height of 21 feet, nine docks, one drive-in door, parking for 120 cars, and 4,820 square feet of office space. The transaction occurred in the Niles market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Undisclosed
- Address: 6900 N Austin Ave, Niles, IL, 60714
- Market: Niles
- Seller's Representative: Christopher Volkert-Colliers International
- Buyer: Venture One Real Estate
- Seller: Undisclosed
- Square Footage: 179,508
Venture One Real Estate's acquisition fund, VK Industrial V LP, is a partnership between Venture One and Kovitz Investment Group. Christopher Volkert represented the undisclosed seller in this transaction.
On the Map
Industrial
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Players
Niles 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