Stan Johnson Company Brokers Sell Itasca Office Building For $20.6M
SOLD
$20,600,000
Illinois
See Similar DealsOffice50,000 SF
Sold 11/10/2020
SOLD
Stan Johnson Company Brokers Sell Itasca Office Building For $20.6M
870 North Arlington Heights Road, Itasca, IL, USA
See Similar DealsOffice50,000 SF
Sold 11/10/2020
Summary
ILLINOIS
Asset Type:Office
Price Per Square Foot:$412
Total Square Footage:50,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,098,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,187.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$97,654.51
Annual Debt Service$1,171,854.12
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