Hangout Lighting Acquires Mixed-use Property In Chicago For $2.13M
450 North Leavitt Street, Chicago, IL 60612
$2,130,000
$118/SF
Building Size
18,000 SF
Asset Type
Mixed-use
Closing
Jan 31, 2022
About this deal
AI
A mixed-use property located at 450 N Leavitt Street in Chicago was recently sold for $2,130,000. The property spans approximately 18,000 square feet, resulting in a price per square foot of $118. The sale took place on January 31, 2022.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $2,130,000
- Address: 450 N Leavitt Street, Chicago
- Market: Chicago
- Buyer: Hangout Lighting
- Seller: Drinkwater
- Broker: Nicholas Schaefer - Cawley Chicago
Nicholas Schaefer from Cawley Chicago represented Hangout Lighting in the transaction. The buyer, Hangout Lighting, acquired the property from the seller, Drinkwater, for the aforementioned sale price. This transaction showcases the successful collaboration between the buyer, seller, and their respective representatives in completing the sale of this mixed-use property in Chicago.
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
7.45%
Cash-on-Cash
-2.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93