Mitchell Hochberg & David Lichtenstein's Lightstone Group Acquires Industrial Property In Buffalo Grove For $35M
SOLD
$35,000,000
Illinois
See Similar DealsIndustrial226,000 SF
Sold 09/07/2022
SOLD
Mitchell Hochberg & David Lichtenstein's Lightstone Group Acquires Industrial Property In Buffalo Grove For $35M
990 Deerfield Parkway, Buffalo Grove, Illinois 60089, United States
See Similar DealsIndustrial226,000 SF
Sold 09/07/2022
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$154
Total Square Footage:226,000 SF
Transaction Type:Sale
The industrial property at 990 & 1000 Deerfield Parkway in Buffalo Grove has been sold for $35,000,000. The property spans 226,000 square feet, resulting in a price per square foot of $155. The transaction took place on 09/07/2022.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $35,000,000
- Address: 990 & 1000 Deerfield Parkway, Buffalo Grove
- Market: Buffalo Grove
The buyers of the property are Mitchell Hochberg and David Lichtenstein from the Lightstone Group. They acquired the property from Clark Street Real Estate and HSA Commercial Real Estate.
NOTE: No additional information about the transaction has been provided.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27
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