Singerman Real Estate Acquires Skokie Office Buildings For $75M
SOLD
$75,000,000
+ 3
Illinois
See Similar DealsOffice158,884 SF
Sold 10/13/2021
SOLD
Singerman Real Estate Acquires Skokie Office Buildings For $75M
8045 Lamon Ave, Skokie, IL, USA
See Similar DealsOffice158,884 SF
Sold 10/13/2021
+ 3
Summary
ILLINOIS
Asset Type:Office
Price Per Square Foot:$472
Total Square Footage:158,884 SF
Transaction Type:Sale
The office property located at 8045 & 8025 Lamon Ave. in Skokie has been sold for a price of $75,000,000. The transaction took place on 10/13/2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $75,000,000
- Address: 8045 & 8025 Lamon Ave., Skokie
- Market: Skokie
The buyer of the property is Singerman Real Estate while the seller is American Landmark Properties. The deal was facilitated by brokers Sam DiFrancesca, Patrick Shields, Jaime Fink, Jeffrey Bramson, Bruce Miller, and Nick Psyllos from JLL Capital Markets.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,000,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$266,459.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$355,538.26
Annual Debt Service$4,266,459.16
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