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Pete Marin Of T5 Data Centers Purchases 89 Acres In Grayslake For $17 Million From Daniel Beelow
SOLD
$17,000,000
Illinois
See Similar DealsLand
Sold 01/28/2025
SOLD
Pete Marin Of T5 Data Centers Purchases 89 Acres In Grayslake For $17 Million From Daniel Beelow
Land
Sold 01/28/2025
Summary
Asset Type:Land
Transaction Type:Sale
This transaction involved the sale of 89 acres of land located in Grayslake. The sale price was $17,000,000. This acquisition is part of T5 Data Centers' strategy to expand its planned 480-megawatt data center campus, having acquired additional land in previous transactions.
Summary of transation details:
- Property Type: Land
- Transaction Amount: $17,000,000
- Buyer: Pete Marin - T5 Data Centers
- Seller: Daniel Beelow
- Market: Grayslake
- Acres: 89
The transaction reflects an increasing trend in suburban Chicago, where data center developers are responding to heightened demand driven by AI and cloud storage requirements. Daniel Beelow was the landowner involved in this deal.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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