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1039 W Lake St, Chicago, IL...

FCA Acquires Property From Sterling Bay Co. For $1.7 Million In Chicago
SOLDRetail

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

Scott Maesel

Broker

$125.4M

vol

10 deals

Broker
Sterling Bay
Sterling BayBrokerage
FCA
FCABuyer
Sterling Bay
Sterling BaySeller

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