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Marcus Sullivan & Tim Rasmussen Close $2.27M Sale Of Mixed-Use Building In Chicago

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SOLD
$2,270,000

Illinois

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Mixed-use6,800 SF
Sold 05/17/2024
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Property Image
SOLD

Marcus Sullivan & Tim Rasmussen Close $2.27M Sale Of Mixed-Use Building In Chicago

5212 North Clark Street

See Similar Deals
Mixed-use6,800 SF
Sold 05/17/2024
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Summary

ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$333
Total Square Footage:6,800 SF
Transaction Type:Sale

The mixed-use building located at 5212 N Clark Street in Chicago's Andersonville neighborhood was recently sold for $2.27 million. The property spans 6,800 square feet and achieved a price per square foot of $334. The sale was facilitated by Tim Rasmussen, CCIM, and Marcus Sullivan of SVN Chicago Commercial's Restaurant Resource Group, representing the seller in the transaction.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,270,000
  • Address: 5212 North Clark Street
  • Market: Chicago

The deal, which aimed to convert the ground floor of the building into a medical facility, secured a local buyer at one of the highest prices per square foot for an Andersonville mixed-use property. The successful transaction was closed by SVN Chicago Commercial, showcasing their expertise in commercial real estate deals in the Chicago market.

Players

Marcus Sullivan
6 deals$10.3M volume
BROKER

Tim Rasmussen
SVN
8 deals$13.6M volume(312) 953-4818
BROKER

Details

SOLD
IMAGE: Marcus Sullivan & Tim Rasmussen DATE: 05/17/2024 ADDRESS: 5212 North Clark Street MARKET: Chicago ASSET TYPE: Mixed-use BROKERS: Marcus Sullivan & Tim Rasmussen - SVN Chicago (@SVN_Chicago) SALE PRICE: $2,270,000 SF: 6,800 ~ PPSF: $334 NOTE: Tim Rasmussen, CCIM and Marcus Sullivan of SVN Chicago Commercial’s Restaurant Resource Group facilitated the sale of a 6,800-square-foot mixed-use building at 5212 N Clark Street in Chicago’s Andersonville neighborhood. SVN | Chicago Commercial, representing the seller, closed the deal at $2.27 million, securing a local buyer aiming to convert the ground floor into medical use, achieving one of the highest prices per square foot for an Andersonville mixed-use property.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$121,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,064.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,760.96
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