Joe Mansueto's Morningstar Acquires Hotel In Chicago For $54M
SOLD
$54,000,000
Illinois
See Similar DealsOther6,738 SF
Sold 11/09/2020
SOLD
Joe Mansueto's Morningstar Acquires Hotel In Chicago For $54M
11 E Walton St, Chicago, IL 60611, Estados Unidos
See Similar DealsOther6,738 SF
Sold 11/09/2020
Summary
ILLINOIS
Asset Type:Other
Price Per Square Foot:$8,014
Total Square Footage:6,738 SF
Transaction Type:Sale
The hotel located at 11 E. Walton Street in Chicago has been sold in a closed transaction. The property was purchased by Joe Mansueto, the founder of Morningstar, from Walton Street Capital for a total price of $54,000,000. The hotel consists of 215 keys, and the price per key amounts to $251,163.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $54,000,000
- Address: 11 E. Walton Street, Chicago
- Market: Chicago
- Buyer: Joe Mansueto - Morningstar
- Seller: Walton Street Capital
Joe Mansueto, the founder of Morningstar, acted as the buyer in this transaction. Walton Street Capital served as the seller. The purchase of the hotel marks an important investment for Mansueto, further expanding his portfolio in the hospitality industry.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,880,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$191,850.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$255,987.55
Annual Debt Service$3,071,850.59
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