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420 Front St, McHenry, IL, ...

Community Consolidated School District 15 Acquires Property At 420 Front St McHenry
SOLDOffice

Community Consolidated School District 15 Acquires Property At 420 Front St McHenry

420 Front St, McHenry, IL, 60050

Building Size

21,500 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property involved in this transaction is a 21,500-square-foot office building located at 420 Front St, McHenry, IL 60050. This two-story, first-class office building was built in 2000 and is situated on Route 31 in the heart of McHenry.

Summary of transaction details:

  • Property Type: Office Building
  • Transaction Amount: Not disclosed
  • Address: 420 Front St, McHenry, IL, 60050
  • Market: McHenry
  • Seller: Glacier Properties
  • Buyer: Community Consolidated School District 15
  • Seller's Representative: Daniel Benassi - Entre Commercial Realty, Daniel T. Jones - Entre Commercial Realty, Dan Benassi - Entre Commercial Realty

This transaction marks the acquisition of a property that will serve as the new central office for McHenry School District, enhancing the District’s functionality and its services to the community, including accommodations for administrative offices, professional development, and community usage.

Players

Sam Deihs

Entre Commercial Realty

Broker

1 deal

Broker

McHenry 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93