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1121 Greenleaf Avenue

Art House Eleven 21 In Wilmette Sold For $9.2M By Buyer HP Ventures Group & Brokers Craig Martin And Lucas Fryman
SOLDMixed-use

Art House Eleven 21 In Wilmette Sold For $9.2M By Buyer HP Ventures Group & Brokers Craig Martin And Lucas Fryman

1121 Greenleaf Avenue

$9,200,000

Building Size

Asset Type

Mixed-use

Closing

Oct 5, 2023

AI

A mixed-use apartment building located at 1121 Greenleaf Avenue in downtown Wilmette has been sold for $9.2 million. The property, known as Art House Eleven 21, was completed in 2018 and consists of 16 units. It features two retail spaces, six two-bedroom apartments, and eight three-bedroom apartments.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $9,200,000
  • Market: Wilmette
  • Units: 16
  • Price Per Unit: $575,000

The buyer of the property is HP Ventures Group, represented by William Brenneman. On the other hand, the seller is 4 Corners, Gabe Horstick & Josh Krueger. The deal was facilitated by brokers Craig Martin and Lucas Fryman of Interra Realty.

Players

Lucas Fryman

Interra Realty

Broker

$278.6M

vol

42 deals

Broker
HG
HP Ventures GroupBuyer
Gabriel Horstick

Gabriel Horstick

Base 3 Development

Seller

$19M

vol

7 deals

Seller

Wilmette Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.72%

Cash-on-Cash

-0.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93