Debbie Sharpe's The Goddess & Grocer Signs Lease For 2000 Square Feet In Chicago
845 North State Street
Building Size
2,000 SF
Asset Type
Retail
Closing
Nov 21, 2024
AI
The property involved in this transaction is a retail asset located at 845 North State Street in Chicago. This space encompasses 2,000 square feet and will serve as the new location for The Goddess & Grocer, which is expanding its operations.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 845 North State Street, Chicago
- Market: Chicago
- Landlord: Newcastle Investors
- Tenant: Debbie Sharpe - The Goddess & Grocer
- Landlord's Representative: Kristen Martin - Newcastle Investors
- Tenant's Representatives: Amy Sider & Sharon Kahan - Odyssey Retail Advisors
The new café location is anticipated to open in mid-January and will include an expanded menu featuring artisan coffee, bakery items, and savory grab-and-go options. It will also provide seating for 30 and include a full kitchen equipped with a wood-fired oven.
Players
Chicago 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