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1606 Hunt Drive Normal, Ill...

Marcfirst Sells 19,840 SF Office Building In Normal, Illinois For $1.1M
SOLDOffice

Marcfirst Sells 19,840 SF Office Building In Normal, Illinois For $1.1M

1606 Hunt Drive Normal, Illinois 61761, USA

$1,100,000

$55/SF

Building Size

19,840 SF

Asset Type

Office

Closing

Jun 28, 2023

AI

An undisclosed buyer has purchased a 19,840-square-foot office building located at 1606 Hunt Drive in Normal, Illinois. The property, previously occupied by Marcfirst, a nonprofit organization, was sold for $1.1 million. The sale was facilitated by AXIS 360 Commercial Real Estate. The buyer plans to renovate the building.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $1,100,000
  • Square Footage: 19,840
  • Price per Square Foot: $55
  • Address: 1606 Hunt Drive, Normal, Illinois
  • Market: Normal

The sale of the office building was brokered by Michael O’Neal & Meghan O’Neal-Rogozinski from AXIS 360 Commercial Real Estate. They represented both the seller, Marcfirst, and the undisclosed buyer in the transaction.

Players

Meghan O’Neal-Rogozinski

AXIS 360 Commercial Real Estate Specialists

Broker

$11M

vol

8 deals

Broker
Coldwell Banker
Coldwell BankerBrokerage

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

14.42%

Cash-on-Cash

-4.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93