David McDonald Of OSI Group Acquires Office Park From Joe Miller Of Twenty Lake Holdings For $7.5M
27201 Bella Vista Parkway
$7,500,000
$50/SF
Building Size
149,000 SF
Asset Type
Office
Closing
May 15, 2025
AI
The property asset involved in the transaction is an office building located at 27201 Bella Vista Parkway in Warrenville. The asset spans 149,000 square feet and was sold for $7,500,000, resulting in a price per square foot of $50.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,500,000
- Buyer: David McDonald - OSI Group
- Seller: Joe Miller - Twenty Lake Holdings (affiliate of Alden Global Capital)
- Square Footage: 149,000
- Price Per Square Foot: $50
- Transaction Date: 05/15/2025
- Market: Warrenville
The deal reflects a significant transaction between David McDonald, representing OSI Group, and Joe Miller, representing Twenty Lake Holdings. Twenty Lake Holdings experienced a $1.3 million loss on its 2020 purchase of the property. The transaction indicates ongoing challenges in Chicago’s suburban office market, with recent leasing activity hinting at a potential recovery.
Players
Warrenville Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93