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25 Piper Ln, Prospect Heigh...

Conor Commercial Real Estate Leases 75500 Square Feet At 25 Piper Ln Prospect Heights IL 60070
LEASEDMixed-use

Conor Commercial Real Estate Leases 75500 Square Feet At 25 Piper Ln Prospect Heights IL 60070

25 Piper Ln, Prospect Heights, IL, 60070

Building Size

75,500 SF

Asset Type

Mixed-use

Closing

Nov 19, 2023

AI

The property involved in this lease transaction is located at 25 Piper Ln, Prospect Heights, IL, 60070. It encompasses a total of 75,500 square feet and falls within the Prospect Heights market. The landlord of the property is Conor Commercial Real Estate.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Square Feet: 75,500
  • Address: 25 Piper Ln, Prospect Heights, IL, 60070
  • Market: Prospect Heights
  • Landlord: Conor Commercial Real Estate
  • Landlord's Representative: Ben Dickey - CBRE
  • Tenant: Not specified

The lease involves the Executive Commerce Center, a 151,000-square-foot development, which was completed in 2020. The project boasts features such as a 32-foot clear height, a column spacing of 52 feet by 56 feet, 7-inch concrete floors, 35 truck docks, two drive-in doors, and a 60-foot speed bay. It was represented in both leases by Mike Sedjo and Ben Dickey of CBRE, with Syncreon and Plitek occupying half of the building each.

Players

Benjamin Dickey

Stream Realty Partners⁠

Broker

$10.5M

vol

5 deals

Broker
Conor Commercial Real Estate
Conor Commercial Real EstateLandlord

Prospect Heights Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93