North American Real Estate Acquires Office Building In Chicago For $19.7M
1579 North Milwaukee Avenue, Chicago, Illinois 60622, United States
$19,700,000
$302/SF
Building Size
65,100 SF
Asset Type
Office
Closing
Nov 3, 2022
About this deal
AI
The office property located at 1579 N Milwaukee Ave in Chicago has been sold for a price of $19,700,000. The transaction took place on 11/04/2022 and involved a total area of 65,100 square feet. The property was acquired by North American Real Estate, represented by Savas Er and David “Buzz” Ruttenberg. The seller, Berger Realty Group, was represented by Erica Berger.
Summary of transation details
- Property Type: Office
- Transaction Amount: $19,700,000
- Address: 1579 N Milwaukee Ave, Chicago
- Square Footage: 65,100
Patrick Forkin from Baum Realty Group served as the broker for the buyer, North American Real Estate. Erica Berger, the owner of Berger Realty Group, represented herself in the transaction.
On the Map
$19,700,000
$302/SF
Office
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Players
Chicago 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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93