FINANCEDOffice
CEDARst Acquires Office Building In Chicago For $43.8M From Erik Larson
4753 North Broadway, Chicago, IL 60640
$43,800,000
$273/SF
Building Size
160,000 SF
Asset Type
Office
Closing
Aug 12, 2020
AI
4753 North Broadway in Chicago has been sold in a closed property transaction. The asset involved in this transaction is an office building. The deal was finalized on 08/12/2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $43,800,000
- Market: Chicago
- Lender: Associated Bank
- Landlord: CEDARst - Erik Larson
The lender for this transaction is Associated Bank. On the other hand, the landlord representative is Erik Larson from CEDARst.
Players
Chicago Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93