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
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