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870 North Arlington Heights...

Stan Johnson Company Brokers Sell Itasca Office Building For $20.6M
SOLDOffice

Stan Johnson Company Brokers Sell Itasca Office Building For $20.6M

870 North Arlington Heights Road, Itasca, IL, USA

$20,600,000

$412/SF

Building Size

50,000 SF

Asset Type

Office

Closing

Nov 9, 2020

AI

Located at 870 N. Arlington Heights Road in Itasca, this office property was recently sold for a price of $20,600,000. The transaction, which took place on 11/10/2020, involved a total square footage of 50,000. With a price per square foot of $412, this sale marks a significant transaction in the Itasca market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $20,600,000
  • Address: 870 N. Arlington Heights Road
  • Market: Itasca

The sale of this office property was facilitated by John Zimmerman and Craig Tomlinson of Stan Johnson Company (SJC). As brokers representing the parties involved in the deal, Zimmerman and Tomlinson played a key role in ensuring a successful transaction. Their expertise and knowledge of the market contributed to the sale of this property.

Players

Craig Tomlinson

Broker

$38M

vol

4 deals

Broker

Itasca 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

0.77%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93