Slate Office REIT Acquires Office Property In Lake Forest, IL From Pfizer For $19.8M
275 North Field Drive, Lake Forest, Illinois 60045, United States
$19,800,000
$100/SF
Building Size
197,500 SF
Asset Type
Office
Closing
Oct 19, 2022
About this deal
AI
An office property located at 275 North Field Drive in Lake Forest, IL is currently under contract. The property, with a total area of 197,500 square feet, was listed for sale by Pfizer. Slate Office REIT, represented by Steve Hodgson, is the buyer in this transaction. The agreed upon price for the property is $19,800,000, resulting in a price per square foot of $100.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $19,800,000
- Address: 275 North Field Drive, Lake Forest, IL
- Market: Lake Forest, IL
- Buyer: Slate Office REIT - Steve Hodgson
- Seller: Pfizer
- Total Square Footage: 197,500
- Price per Square Foot: $100
Steve Hodgson, representing Slate Office REIT, is the buyer in this transaction. The seller, Pfizer, has agreed to sell the office property located at 275 North Field Drive in Lake Forest, IL for a total price of $19,800,000.
On the Map
$19,800,000
$100/SF
Office
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Lake Forest 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
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93