Echo Real Estate Capital Sells Office Building In Chicago For $16.3M
2401 West Grace Street, Chicago, IL 60618, USA
$16,275,000
$173/SF
Building Size
94,000 SF
Asset Type
Office
Closing
Dec 9, 2021
About this deal
AI
The office property located at 2401 West Grace Street in Chicago has been sold for a price of $16,275,000. The property spans a total of 94,000 square feet, resulting in a price per square foot of $173. The sale was conducted by Echo Real Estate Capital, represented by Jon Boyajian.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $16,275,000
- Address: 2401 West Grace Street
- Market: Chicago
- Square Footage: 94,000
- Price per Square Foot: $173
Jon Boyajian, from Echo Real Estate Capital, played a key role as the seller's representative in the transaction.
Players
Chicago Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.97%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93