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Jeff Reimer Of Paragon Micro Acquires Industrial Building In Buffalo Grove For $4.25M

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SOLD
$4,250,000

Illinois

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Industrial51,088 SF
Sold 01/22/2025
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SOLD

Jeff Reimer Of Paragon Micro Acquires Industrial Building In Buffalo Grove For $4.25M

901 Deerfield Parkway

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Industrial51,088 SF
Sold 01/22/2025
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Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$83
Total Square Footage:51,088 SF
Transaction Type:Sale

The sale involves a 51,088-square-foot industrial building located at 901 Deerfield Parkway in Buffalo Grove, Illinois, which was sold for $4,250,000. The property was renovated in 2018 to support operations as a full-service IT solution provider.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $4,250,000
  • Address: 901 Deerfield Parkway
  • Market: Buffalo Grove
  • Square Footage: 51,088
  • Price Per Square Foot: $83
  • Buyer: Jeff Reimer - Paragon Micro, Inc.
  • Seller: Awaken CTTE, LLC
  • Buyer's Representative: Tom Boyle - Lee & Associates
  • Seller's Representative: Rick Hiton - Hiton & Associates

Tom Boyle from Lee & Associates represented the buyer, Paragon Micro, Inc., while Rick Hiton from Hiton & Associates represented the seller, Awaken CTTE, LLC, ensuring the transaction was finalized effectively. The acquisition will enhance Paragon Micro's operational capabilities within the IT solutions sector.

Players

Tom Boyle
13 deals$109.3M volume(773) 355-5079
BROKER

Rick Hiton
1 deal$4.3M volume(847) 886-0153
BROKER

Details

SOLD
IMAGE: Rick Hiton, Jeff Reimer & Tom Boyle DATE: 01/22/2025 ADDRESS: 901 Deerfield Parkway MARKET: Buffalo Grove ASSET TYPE: Industrial BUYER: Jeff Reimer - Paragon Micro, Inc. SELLER: Awaken CTTE, LLC BUYER'S REP: Tom Boyle - Lee & Associates (@LeeAssociatesRE) SELLER'S REP: Rick Hiton - Hiton & Associates SALE PRICE: $4,250,000 SF: 51,088 ~ PPSF: $83 NOTE: Lee & Associates has finalized the $4.25 million sale of a 51,088-square-foot industrial building at 901 Deerfield Parkway in Buffalo Grove, Illinois, with Tom Boyle representing the buyer, Paragon Micro, Inc., and Rick Hiton representing the seller, Awaken CTTE, LLC. The property, renovated in 2018, will support Paragon Micro's operations as a full-service IT solution provider.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$226,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,099.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,147.17
Annual Debt Service$241,766.02