Deka Immobilien Acquires Office Building In Fulton Market For $85M
SOLD
$85,000,000
+ 1
Illinois
See Similar DealsOffice98,000 SF
Sold 05/15/2020
SOLD
Deka Immobilien Acquires Office Building In Fulton Market For $85M
905 W Fulton Market, Chicago, IL 60607, USA
See Similar DealsOffice98,000 SF
Sold 05/15/2020
+ 1
Summary
ILLINOIS
Asset Type:Office
Price Per Square Foot:$867
Total Square Footage:98,000 SF
Transaction Type:Sale
Located at 905 W. Fulton Market in Fulton Market, this office property has been sold in a closed transaction. The property spans 98,000 square feet and was sold for a price of $85,000,000, resulting in a price per square foot of $867. The property was sold by Thor Equities to Deka Immobilien.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $85,000,000
- Address: 905 W. Fulton Market
- Market: Fulton Market
- Square Footage: 98,000
Deka Immobilien has acquired this office property in Fulton Market from Thor Equities for a total amount of $85,000,000. The buyer was represented by Tom Sitz, Cody Hundertmark, David Knapp, and Josh McGee of Cushman & Wakefield.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,533,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$301,987.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$402,943.36
Annual Debt Service$4,835,320.38
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