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
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