East Coast Investor Acquires Retail/Office/Event Property In Fulton Market / West Loop, Chicago, IL For $32M
SOLD
$32,000,000
Illinois
See Similar DealsMixed-use83,000 SF
Sold 03/16/2021
SOLD
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
See Similar DealsMixed-use83,000 SF
Sold 03/16/2021
Summary
ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$385
Total Square Footage:83,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$113,689.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,696.33
Annual Debt Service$1,820,355.91
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