Marcus & Millichap Sells Office Property In Chicago For $3.4M
1642 W 59th St, Chicago, IL 60636, USA
$3,400,000
$87/SF
Building Size
38,747 SF
Asset Type
Office
Closing
Jul 13, 2020
About this deal
AI
The office property located at 1642 West 59th Street in Chicago has been sold in a closed transaction. The property spans a total of 38,747 square feet with a price per square foot of $88. The sale took place on July 14, 2020, for a total price of $3,400,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,400,000
- Square Footage: 38,747
- Price per Square Foot: $88
- Address: 1642 West 59th Street, Chicago
- Market: Chicago
The transaction was facilitated by the brokers Adrian Mendoza, Austin Weisenbeck, and Sean Sharko from Marcus & Millichap.
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
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93