Deka Immobilien Acquires Mixed-Use Property In Chicago For $169M
SOLD
$169,000,000
Illinois
See Similar DealsMixed-use206,315 SF
Sold 09/07/2021
SOLD
Deka Immobilien Acquires Mixed-Use Property In Chicago For $169M
210 North Carpenter Street, Chicago, IL 60607, USA
See Similar DealsMixed-use206,315 SF
Sold 09/07/2021
Summary
ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$819
Total Square Footage:206,315 SF
Transaction Type:Sale
A mixed-use property in Chicago located at 210 N Carpenter has been sold for a price of $169,000,000. The property, spanning over 206,315 square feet, consists of both office and retail space. This transaction took place on September 7, 2021.
Summary of transaction details
- Property Type: Mixed-use (Office & Retail)
- Transaction Amount: $169,000,000
- Address: 210 N Carpenter, Chicago
- Square Footage: 206,315 sqft
The buyer of this property is Deka Immobilien, while the seller is Sterling Bay, represented by Andy Gloor, and JP Morgan Asset Management. Tom Sitz from Cushman & Wakefield acted as the broker in this deal.
Players
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SELLER
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LENDER
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,013,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$600,421.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$801,146.22
Annual Debt Service$9,613,754.64
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