Sentinel Net Lease Acquires Office Property In Bannockburn For $28.55 Million
SOLD
$28,550,000
Illinois
See Similar DealsOffice213,216 SF
Sold 04/13/2023
SOLD
Sentinel Net Lease Acquires Office Property In Bannockburn For $28.55 Million
3000 Lakeside Drive
See Similar DealsOffice213,216 SF
Sold 04/13/2023
Summary
ILLINOIS
Asset Type:Office
Price Per Square Foot:$133
Total Square Footage:213,216 SF
Transaction Type:Sale
The office property located at 3000 Lakeside Drive in Bannockburn has been sold in a closed transaction. The property spans 213,216 square feet and was sold at a price of $28,550,000, resulting in a price per square foot of $134.
Summary of transation details
- Property Type: Office
- Transaction Amount: $28,550,000
- Square Footage: 213,216
- Address: 3000 Lakeside Drive, Bannockburn
- Market: Bannockburn
The buyer in this transaction is Sentinel Net Lease, represented by Dennis Cisterna and Fred Lewis. They acquired the property from the seller, Axial Real Estate Advisors. Sam DiFrancesca from JLL served as the broker in the deal.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,522,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$101,432.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$135,341.57
Annual Debt Service$1,624,098.79
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