Trevian Capital Provides $10.4M Refinance Loan For Retail Property On 1419 N Wells St In Chicago
1419 23 N Wells St, Chicago, Illinois 60610, United States
$10,400,000
$607/SF
Building Size
17,110 SF
Asset Type
Retail
Closing
Jan 24, 2022
AI
1419 N Wells St, a retail property located in Chicago, was recently involved in a closed transaction. The property spans a total of 17,110 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 01/25/2022
- Address: 1419 N Wells St, Chicago
- Market: Chicago
- Asset Type: Retail
- Square Footage: 17,110
The loan for this transaction was provided by Trevian Capital, with a loan amount of $10,400,000. The loan was a refinance type. The lender's representative in this deal was Michael Hoffenberg from Trevian Capital. Gershon Friedman from Meridian Capital Group represented the buyer as the broker.
Players
Chicago Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.53%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93