The Wilmette Park District Acquires 4.6 Acres At 3220 Big Tree Lane For $5.4M
3220 Big Tree Lane
$5,400,000
Building Size
—
Asset Type
Land
Closing
Aug 28, 2024
About this deal
AI
The property involved in this transaction is a 4.6-acre parcel of land located at 3220 Big Tree Lane in Wilmette. The finalized sale price for the land was $5,400,000. This site previously housed a synagogue building.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $5,400,000
- Buyer: The Wilmette Park District
- Seller: Michael Kahn - Beth Hillel Congregation Bnai Emunah
- Buyer's Representative: Larry Serota - Transwestern
- Seller's Representative: Wayne Caplan - SVN Chicago
Under the terms of the transaction, the Wilmette Park District plans to use the land for future expansion. Meanwhile, the Beth Hillel Congregation Bnai Emunah will lease the property back for approximately 18 months as they seek a new location.
On the Map
$5,400,000
Land
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.94%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93