Hamid Moghadam's Prologis Acquires Mixed-use Property In Chicago For $100M
SOLD
$100,000,000
Illinois
See Similar DealsMixed-use339,000 SF
Sold 03/26/2021
SOLD
Hamid Moghadam's Prologis Acquires Mixed-use Property In Chicago For $100M
930 West Evergreen Avenue, Chicago, IL 60642
See Similar DealsMixed-use339,000 SF
Sold 03/26/2021
Summary
ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$295
Total Square Footage:339,000 SF
Transaction Type:Sale
The mixed-use property located at 930 W. Evergreen Ave. in Chicago has been sold in a recent transaction. The property consists of a warehouse and office space, making it a versatile asset. The sale took place on 03/26/2021.
Summary of transaction details:
- Property Type: Mixed-use (Warehouse & Office)
- Transaction Amount: $100,000,000
- Square Footage: 339,000
- Price per Square Foot: $295
- Address: 930 W. Evergreen Ave., Chicago
The buyer of the property is Hamid Moghadam, representing Prologis. On the other hand, Eugene Gorab, representing Greenfield Partners & Related Fund Management, acted as the seller. The deal was facilitated by Cushman & Wakefield, serving as the broker in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21
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