The Times Acquires Office Building In Chicago For $2.8M
451 North Racine Avenue, Chicago, Illinois 60642, United States
$2,800,000
$171/SF
Building Size
16,350 SF
Asset Type
Office
Closing
Apr 4, 2022
About this deal
AI
The office building located at 451 N Racine Ave in Chicago was recently sold for $2,800,000. The property spans 16,350 square feet, resulting in a price per square foot of $171. The transaction took place on 04/05/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,800,000
- Address: 451 N Racine Ave, Chicago
- Square Footage: 16,350
- Price Per Square Foot: $171
The buyer of the property was The Times, while the seller was 1005 N California LLC. Marco Federow from MK Asset Management represented the buyer, and Zach Pruitt and Nicholas Schaefer from Cawley Chicago represented the seller.
Players
Chicago Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Zach Pruitt to view all their deals.
Browse Illinois office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93