Bally Acquires Industrial Property In Chicago For $200M
SOLD
$200,000,000
Illinois
See Similar DealsIndustrial
Sold 10/11/2022
SOLD
Bally Acquires Industrial Property In Chicago For $200M
777 West Chicago Avenue, Chicago, Illinois 60654, United States
See Similar DealsIndustrial
Sold 10/11/2022
Summary
ILLINOIS
Asset Type:Industrial
Transaction Type:Sale
The under contract industrial property located at 777 W. Chicago Ave in Chicago, with approximately 30 acres, is set to change hands. The transaction involves Bally, represented by Soo Kim, as the buyer, and Nexstar Media Group, represented by Lee Ann Gliha, as the seller. The deal is valued at $200,000,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $200,000,000
- Date: 11/10/2022
- Address: 777 W. Chicago Ave
- Market: Chicago
- Buyer: Bally - Soo Kim
- Seller: Nexstar Media Group - Lee Ann Gliha
Lee Ann Gliha and Soo Kim are the key individuals representing the seller and buyer respectively. Both parties have come to an agreement for the deal, which is now under contract. The transaction is expected to proceed as planned.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$710,557.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$948,102.04
Annual Debt Service$11,377,224.42
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