Private Developer Acquires Mixed-Use Property In Bucktown, Wicker Park For $6.2M
1954 W North Ave, Chicago, IL 60622
$6,200,000
$494/SF
Building Size
12,534 SF
Asset Type
Mixed-use
Closing
Nov 10, 2022
AI
The mixed-use property located at 1954 W. North Ave in Bucktown, Wicker Park has been sold. The transaction took place on November 11, 2022, with a sale price of $6,200,000. The property spans 12,534 square feet, resulting in a price per square foot of $495. The buyer, a private developer, acquired the property from 1954 W North Avenue LLC.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $6,200,000
- Address: 1954 W. North Ave
- Market: Bucktown, Wicker Park
The buyer was represented by Ted Stratman and Jeremy Morton from Interra Realty, while the seller, 1954 W North Avenue LLC, was represented by Patrick Kennelly and Paul Waterloo, also from Interra Realty.
Players
Chicago 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
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93