East Coast Investor Acquires Retail/Office/Event Property In Fulton Market / West Loop, Chicago, IL For $32M
400 North Morgan Street, Fulton Market, Chicago, Illinois, USA
$32,000,000
$385/SF
Building Size
83,000 SF
Asset Type
Mixed-use
Closing
Mar 15, 2021
AI
An 83,000-square-foot retail/office/event property located at 400 & 401 North Morgan in Fulton Market / West Loop, Chicago, IL has been sold for a total of $32,000,000. The property sits on a land area of 75,000 square feet.
Summary of transation details
- Property Type: Retail/Office/Event
- Transaction Amount: $32,000,000
- Address: 400 & 401 North Morgan, Fulton Market / West Loop, Chicago, IL
- Market: Fulton Market / West Loop, Chicago, IL
The buyer, known as East Coast Investor, acquired the property from the seller, Chicago Investment Group. The transaction was facilitated by Danny Spitz and Jason St. John, representing Greenstone Partners.
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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93