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California-based Private Partnership Sells Eastek International Leased Property In Vernon Hills For $2.4M

Property Image
SOLD
$2,400,000
Brent Holder
Peter Doughty
Steven Weinstock

Illinois

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Mixed-use22,155 SF
Sold 09/23/2024
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Property Image
SOLD

California-based Private Partnership Sells Eastek International Leased Property In Vernon Hills For $2.4M

825 Corporate Woods Parkway

See Similar Deals
Mixed-use22,155 SF
Sold 09/23/2024
Brent Holder
Peter Doughty
Steven Weinstock
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$108
Total Square Footage:22,155 SF
Transaction Type:Sale

A mixed-use property located at 825 Corporate Woods Parkway in Vernon Hills, Illinois, has been sold for $2,400,000. The building spans 22,155 square feet and is fully leased to Eastek International. The site covers an area of 2.36 acres, contributing to its functional appeal in the market.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,400,000
  • Square Footage: 22,155
  • Address: 825 Corporate Woods Parkway
  • Market: Vernon Hills
  • Price Per Square Foot: $108
  • Seller: California-based private partnership
  • Buyer: Local Chicagoland investor
  • Brokers: Brent Holder, Peter Doughty & Steven Weinstock - Marcus & Millichap

Marcus & Millichap arranged the transaction, facilitating the sale of the property from the seller to the buyer. The involvement of the brokerage highlights their role in managing the negotiation and successful completion of this deal.

Players

Peter Doughty
Marcus & Millichap
Peter Doughty
17 deals$82.8M volume
BROKER
Steven Weinstock
Marcus & Millichap
Steven Weinstock
19 deals$73.1M volume
BROKER
Brent Holder
Marcus & Millichap
Brent Holder
4 deals$19.5M volume
BROKER

Details

SOLD
IMAGE: Brent Holder, Peter Doughty & Steven Weinstock DATE: 09/23/2024 ADDRESS: 825 Corporate Woods Parkway MARKET: Vernon Hills ASSET TYPE: Mixed-use ~ ACRES: 2.36 BROKERS: Brent Holder (@Brent_Holder), Peter Doughty (@PeterDoughty44) & Steven Weinstock - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $2,400,000 SF: 22,155 ~ PPSF: $108 NOTE: Marcus & Millichap arranged the $2.4 million sale of a single-tenant industrial flex property at 825 Corporate Woods Parkway in Vernon Hills, Illinois. The 22,155 sq. ft. building, fully leased to Eastek International, was sold by a California-based private partnership to a local Chicagoland investor.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$8,526.70
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