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7 E Northwest Hwy, Palatine...

Synergy Builders Leases Retail Space In Palatine From Palatine Retail Center
LEASEDRetail

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

Randy Olczyk

Chicagoland Commercial Real Estate

Broker

$2.9M

vol

14 deals

Broker

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