Michael Clewlow Of Venture One Acquires Industrial Building From Levi Holdings For $6.187M
700 District Drive
$6,187,000
$103/SF
Building Size
59,778 SF
Asset Type
Industrial
Closing
Sep 12, 2024
AI
An industrial building located at 700 District Drive in Itasca, IL was sold for $6,187,000. The property encompasses a total area of 59,778 square feet, translating to a price per square foot of $103.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,187,000
- Address: 700 District Drive
- Market: Itasca
- Buyer: Michael Clewlow - Venture One
- Seller: Levi Holdings
- Buyer's Representative: Calum Payne - CBRE
- Seller's Representative: Jeffrey Janda - Lee & Associates
The transaction was facilitated by Lee & Associates, with Jeffrey Janda representing the seller, Levi Holdings. The buyer, Michael Clewlow of Venture One, was advised by his representative Calum Payne, who is affiliated with CBRE. The property was pre-leased to HVAC contractor Premistar at the time of the sale.
Players
Itasca 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
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93