Private Developer Acquires Mixed-Use Property In Bucktown, Wicker Park For $6.2M
SOLD
$6,200,000
+ 1
Illinois
See Similar DealsMixed-use12,534 SF
Sold
SOLD
Private Developer Acquires Mixed-Use Property In Bucktown, Wicker Park For $6.2M
1954 W North Ave, Chicago, IL 60622
See Similar DealsMixed-use12,534 SF
Sold
+ 1
Summary
ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$494
Total Square Footage:12534 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$330,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,027.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,391.16
Annual Debt Service$352,693.96
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