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1000 E State Pkwy, Schaumbu...

Unknown Buyer Acquires Property From Clear Height Properties For $2.7 Million With Kelly Joyce As Buyer's Rep
SOLDOffice

Unknown Buyer Acquires Property From Clear Height Properties For $2.7 Million With Kelly Joyce As Buyer's Rep

1000 E State Pkwy, Schaumburg, IL, 6...

$2,700,000

$61/SF

Building Size

43,800 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

A 43,800-square-foot office building located at 1000 E. State Parkway in Schaumburg has been sold for $2,700,000. The property is fully leased and is situated within the Woodfield Business Center in the Schaumburg market.

Summary of transaction details:

Podolsky Circle CORFAC International facilitated the transaction, representing the seller, Clear Height Properties, in the sale of the office building. The deal involved a private investor as the buyer, who was represented by Kelly Joyce from Colliers International.

Players

Paul Tesdal

Greenstone Partners

Broker

$48.9M

vol

5 deals

Broker
Clear Height Properties
Clear Height PropertiesSeller

Schaumburg Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93