Updated Oct 28, 2024
Quality Elevator Products Sells Industrial Property In Niles For $5.2M With Brokers Peter Doughty & Dylan Hyde - Marcus & Millichap
7760 North Merrimac Avenue, Niles, Illinois 60714, United States
$5,200,000
$92/SF
Building Size
56,261 SF
Asset Type
Industrial
Closing
Jun 21, 2022
About this deal
AI
The industrial property located at 7760 N. Merrimac Ave in Niles was recently sold for a price of $5,200,000. The property, owned by Quality Elevator Products, spans an area of 56,261 square feet. The sale price equates to approximately $92 per square foot. The transaction was facilitated by brokers Peter Doughty and Dylan Hyde from Marcus & Millichap.
Summary of Transaction Details:
- Property Type: Industrial
- Transaction Amount: $5,200,000
- Size: 56,261 square feet
- Price per Square Foot: $92
- Address: 7760 N. Merrimac Ave, Niles
- Market: Niles
Peter Doughty and Dylan Hyde from Marcus & Millichap played a crucial role as brokers in facilitating the sale of the property. Their expertise and guidance ensured a successful transaction for both the seller, Quality Elevator Products, and the buyer. This sale in the industrial market reflects ongoing activity and interest in the Niles area, making it an attractive investment for the parties involved.
On the Map
$5,200,000
$92/SF
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
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93