TopMed Realty Acquires Skokie Office Building For $36M
SOLD
$36,000,000
Illinois
See Similar DealsOffice178,000 SF
Sold 11/19/2021
SOLD
TopMed Realty Acquires Skokie Office Building For $36M
4901 Searle Parkway, Skokie, IL 60077, USA
See Similar DealsOffice178,000 SF
Sold 11/19/2021
Summary
ILLINOIS
Asset Type:Office
Price Per Square Foot:$202
Total Square Footage:178,000 SF
Transaction Type:Sale
TopMed Realty has acquired an office property located at 4901 Searle Parkway in Skokie. The transaction, which took place on November 19, 2021, was valued at $36,000,000. The office building spans 178,000 square feet, resulting in a price per square foot of $202. Roni Soffer provided the image for the sale.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $36,000,000
- Address: 4901 Searle Parkway, Skokie
- Market: Skokie
- Image: Roni Soffer
- Square Footage: 178,000
- Price per Square Foot: $202
TopMed Realty, represented by Roni Soffer, successfully completed the acquisition of the office property in Skokie. This deal highlights the company's strategic investment in the Skokie market and reinforces their position in the commercial real estate sector.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,920,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40
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