FCA Acquires Property From Sterling Bay Co. For $1.7 Million In Chicago
1039 W Lake St, Chicago, IL, 60607
$1,700,000
$404/SF
Building Size
4,200 SF
Asset Type
Retail
Closing
Nov 19, 2023
AI
A two-story retail building located at 1039 W Lake St, Chicago, IL, 60607 has been sold for $1,700,000. The property spans 4,200 square feet within the Chicago market.
Summary of transaction details:
- Property Type: Retail Building
- Transaction Amount: $1,700,000.00
- Square Footage: 4,200 SF
- Buyer: FCA
- Seller: Sterling Bay Co.
- Buyer's Representative: Lee French - SVN Chicago Commercial, Tim Rasmussen
- Seller's Representative: Drew Dillon - SVN, Scott Maesel
The transaction involved representation from SVN | Chicago Commercial for both the buyer and seller. The buyer, FCA, was represented by Lee French and Tim Rasmussen, while the seller, Sterling Bay Co., was represented by Drew Dillon and Scott Maesel.
Players
Chicago Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93