Neighborhood Hotel Acquires Office Building In Chicago For $14M
801 West Madison Street, Chicago, Illinois 60607, United States
$14,000,000
$170/SF
Building Size
82,000 SF
Asset Type
Office
Closing
Oct 6, 2022
About this deal
AI
The office property located at 801 W. Madison Street in Chicago has been sold in a transaction. The sale was facilitated by Jonathan Gordon, a well-known real estate agent.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $14,000,000
- Square Footage: 82,000
- Price per Square Foot: $171
- Address: 801 W. Madison Street, Chicago
- Market: Chicago
The buyer of the property is Neighborhood Hotel represented by Jonathan Gordon. The sale price for the office property was $14,000,000 with a total area of 82,000 square feet. The transaction took place in Chicago's real estate market.
Players
Chicago 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93