Fortinet Acquires Office Building In Chicago's West Randolph St For $20.8M
SOLD
$20,800,000
Illinois
See Similar DealsOffice94,000 SF
Sold 03/31/2022
SOLD
Fortinet Acquires Office Building In Chicago's West Randolph St For $20.8M
564 West Randolph Street, Chicago, Illinois 60661, United States
See Similar DealsOffice94,000 SF
Sold 03/31/2022
Summary
ILLINOIS
Asset Type:Office
Price Per Square Foot:$221
Total Square Footage:94,000 SF
Transaction Type:Sale
Fortinet, led by Ken Xie, has acquired an office asset located at 564 West Randolph St in Chicago. The property spans approximately 94,000 square feet and was sold by Pritzker Realty Group for a total price of $20,800,000. This translates to a price per square foot of $221.
Summary of transation details
- Property Type: Office
- Transaction Amount: $20,800,000
- Address: 564 West Randolph St, Chicago
- Buyer: Fortinet - Ken Xie
- Seller: Pritzker Realty Group
Ken Xie, representing Fortinet, was instrumental in finalizing the deal for the acquisition of this office property. Fortinet, under the leadership of Ken Xie, continues to expand its presence in the Chicago market with this strategic purchase.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,109,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,898.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$98,602.61
Annual Debt Service$1,183,231.34
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