KW Commercial Acquires Mixed-Use Property In Bronzeville, Chicago For $2.5M
5060 South State Street, South Side, Chicago, IL, USA
$2,500,000
$8,333/SF
Building Size
300 SF
Asset Type
Mixed-use
Closing
Aug 12, 2020
About this deal
AI
The Bronzeville DaVita Medical Office and Retail Center in Chicago has been sold in a closed transaction. The mixed-use property, located at 5060 S State, was recently sold for a price of $2,500,000. The transaction was facilitated by brokers Travis Montgomery and James Daughrity, with James representing the buyer in the deal.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,500,000
- Address: 5060 S State, Bronzeville, Chicago
- Market: Bronzeville, Chicago
- Brokers: Travis Montgomery & James Daughrity
Congratulations to Travis Montgomery from KW Commercial for successfully managing the sale of the Bronzeville DaVita Medical Office and Retail Center. After 45 days of marketing, Travis received more than a dozen offers for the property. To secure the winning bid, Travis collaborated with James Daughrity, a representative from Daughrity Real Estate who represented the buyer. This collaboration proved to be a strategic move in getting the deal finalized. For more information on investment-grade opportunities in Chicago, visit http://chicagomultifamilyinvestments.com.
On the Map
$2,500,000
$8,333/SF
Mixed-use
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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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93