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
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