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27201 Bella Vista Parkway

David McDonald Of OSI Group Acquires Office Park From Joe Miller Of Twenty Lake Holdings For $7.5M
SOLDOffice

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

TH
Twenty Lake HoldingsSeller

Warrenville 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

2.12%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93