Synergy Builders Leases Retail Space In Palatine From Palatine Retail Center
7 E Northwest Hwy, Palatine, IL, 60067
Building Size
1,600 SF
Asset Type
Retail
Closing
May 8, 2019
AI
The property at 7 E Northwest Hwy, Palatine, IL, 60067 is a retail asset consisting of a 1,600-square-foot space leased by Synergy Builders from the landlord Palatine Retail Center, LLC. Synergy Builders, a design/build home remodeling company, will utilize the space as a showroom. The lease was facilitated by Randy Olczyk and Thomas (Tom) Callahan of Chicagoland Commercial Real Estate, representing both the landlord and the tenant in the transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 7 E Northwest Hwy, Palatine, IL, 60067
- Market: Palatine
- Tenant: Synergy Builders
- Landlord: Palatine Retail Center, LLC
- Square Feet: 1600
- Landlord's Rep: Randy Olczyk(Chicagoland Commercial Real Estate), Thomas (Tom) Callahan(Chicagoland Commercial Real Estate)
The lease transaction at 7 E Northwest Hwy in Palatine involved Synergy Builders, a design/build home remodeling company, and the landlord Palatine Retail Center, LLC. Randy Olczyk and Thomas (Tom) Callahan, both of Chicagoland Commercial Real Estate, were instrumental in facilitating the lease, representing both the landlord and the tenant in the 1,600-square-foot showroom agreement.
Players
Palatine Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93