Monarch Realty Partners Brokers $13.6M Sale Of Mixed-Use Property In Libertyville, IL
SOLD
$13,600,000
Illinois
See Similar DealsMixed-use66,172 SF
Sold 01/24/2022
SOLD
Monarch Realty Partners Brokers $13.6M Sale Of Mixed-Use Property In Libertyville, IL
115 Lake St, Libertyville, Illinois 60048, United States
See Similar DealsMixed-use66,172 SF
Sold 01/24/2022
Summary
ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$205
Total Square Footage:66,172 SF
Transaction Type:Sale
The Manchester, a mixed-use property located at 115 Lake Avenue in Libertyville, Illinois, has been sold for $13,600,000. The property, brokered by Monarch Realty Partners, features a total area of 66,172 square feet with 34 luxury apartments and 5 large commercial spaces. Additionally, there is a parking garage with 36 spaces and an outdoor parking area with 37 spaces. The property also offers amenities such as a fitness center, on-site leasing office, and a re-designed lobby. Originally constructed in 2008, the property underwent renovations in 2016.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $13,600,000
- Address: 115 Lake Avenue, Libertyville, IL
- Market: Libertyville, IL
Bill Baumann and Michael Anguiano from Monarch Realty Partners represented the parties involved in the transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$725,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,317.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,470.94
Annual Debt Service$773,651.26
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