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820 N Wolcott Ave, Chicago,...

Chicago Wolcott LLC Acquires Office Building On 820 N. Wolcott Ave For $4.1M
SOLDOffice

Chicago Wolcott LLC Acquires Office Building On 820 N. Wolcott Ave For $4.1M

820 N Wolcott Ave, Chicago, IL, USA

$4,125,000

$183/SF

Building Size

22,500 SF

Asset Type

Office

Closing

Feb 10, 2021

AI

Chicago Wolcott LLC has acquired an office property located at 820 N. Wolcott Ave in Chicago. The property, with a total square footage of 22,500, was sold by Mid-American Elevator Company for a price of $4,125,000, resulting in a price per square foot of $183.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $4,125,000
  • Square Footage: 22,500
  • Price per Square Foot: $183
  • Address: 820 N. Wolcott Ave, Chicago

The buyer's representative in this transaction was Kinzie Brokerage, while Cory Kay, Jeff Locascio, and Mike DeSerto from Entre Commercial Realty represented the seller, Mid-American Elevator Company.

Players

Michael DeSerto

Entre Commercial Realty

Broker

$4.1M

vol

10 deals

Broker

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

3.85%

Cash-on-Cash

-1.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93