Firenze Group Acquires Office Property In Chicago For $310M
SOLD
$310,000,000
Illinois
See Similar DealsOffice
Sold 01/25/2022
SOLD
Firenze Group Acquires Office Property In Chicago For $310M
311 South Wacker Drive, Chicago, IL 60606
See Similar DealsOffice
Sold 01/25/2022
Summary
ILLINOIS
Asset Type:Office
Transaction Type:Sale
The under contract property in Chicago is located at 311 S. Wacker Dr and falls under the asset type of Office. The property was sold by Zeller Realty Group and Cindat Capital Management.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $310,000,000
- Market: Chicago
- Buyer: Firenze Group - Aldo Saavedra
- Seller: Zeller Realty Group & Cindat Capital Management
The buyer of the property is Firenze Group represented by Aldo Saavedra. The sale of this property was made for the price of $310,000,000.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$16,533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,101,364.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,469,558.15
Annual Debt Service$17,634,697.86
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