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Valley Equity Group Purchases Property In Westmont For $18.9 Million With Derek Fohl As Seller's Representative

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SOLD
$18,900,000

Illinois

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SOLD

Valley Equity Group Purchases Property In Westmont For $18.9 Million With Derek Fohl As Seller's Representative

999 Oakmont Plaza Dr, Westmont, IL...

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Summary

ILLINOIS
Asset Type:Office
Transaction Type:Sale

The sale of the Oakmont Corporate Center and One Oakmont Plaza took place at 999 Oakmont Plaza Dr, Westmont, IL, with a transaction price of $18,900,000.00. The Oakmont Corporate Center is a four-story office building encompassing 74,279 square feet and is currently 95 percent leased. One Oakmont Plaza, a six-story building, features 117,841 square feet and is fully leased at 100 percent occupancy. Both properties are located on five-acre sites and have recently undergone lobby renovations.

Summary of transaction details:

  • Property Type: Office Building
  • Transaction Amount: $18,900,000.00
  • Address: 999 Oakmont Plaza Dr, Westmont, IL
  • Market: Westmont
  • Seller's Representatives: Derek Fohl, Bill Novelli, and Pete Adamo - CBRE
  • Buyer: Valley Equity Group
  • Total Square Footage: 192,120

Bill Novelli, Derek Fohl, and Pete Adamo of CBRE represented the undisclosed seller in this transaction. The buyer, Valley Equity Group, acquired the portfolio of both office buildings situated strategically about 23 miles west of Chicago.

Players

Derek Fohl
5 deals$190.1M volume(312) 224-3196
BROKER

Peter Adamo
CBRE
3 deals$18.9M volume(630) 732-1229
BROKER

William J. Novelli
CBRE
1 deal$18.9M volume(630) 573-7084
BROKER

BUYER

Details

SOLD
IMAGE: 999 Oakmont Plaza Dr, Westmont, IL... MARKET: Westmont SELLER'S REP: Derek Fohl, Bill Novelli, and Pete Adamo -CBRE BUYER: Valley Equity Group PRICE: $18,900,000.00 SF: 0

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,008,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$67,147.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$89,595.64
Annual Debt Service$1,075,147.71