Development Site On Cicero Avenue Sold For $2.7M With Broker Moshe Weinberger
3601 North Cicero Avenue
$2,700,000
Building Size
—
Asset Type
Land
Closing
Aug 1, 2024
AI
A development site located at 3601 North Cicero Avenue in Chicago has been sold for $2,700,000. The asset spans 0.69 acres and encompasses a total area of 31,535 square feet, positioned at a high-traffic intersection, which is advantageous for potential redevelopment. The site is suited for various commercial uses such as retail or medical facilities.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,700,000
- Address: 3601 North Cicero Avenue
- Market: Chicago
- Acres: 0.69
- Square Footage: 31,535
The transaction was facilitated by Moshe Weinberger representing Strauss Realty, emphasizing the professional involvement behind this development opportunity in a vibrant area of Chicago.
Players
Chicago Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93