The Times Acquires Office Building In Chicago For $2.8M
SOLD
$2,800,000
Illinois
See Similar DealsOffice16,350 SF
Sold 04/05/2022
SOLD
The Times Acquires Office Building In Chicago For $2.8M
451 North Racine Avenue, Chicago, Illinois 60642, United States
See Similar DealsOffice16,350 SF
Sold 04/05/2022
Summary
ILLINOIS
Asset Type:Office
Price Per Square Foot:$171
Total Square Footage:16,350 SF
Transaction Type:Sale
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
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
Is there something missing? Send suggestions