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Michael Tsoumpas Sells Retail Property In Crystal Lake, IL For $35.5M

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SOLD
$35,500,000

Illinois

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Retail74,800 SF
Sold 10/11/2022
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SOLD

Michael Tsoumpas Sells Retail Property In Crystal Lake, IL For $35.5M

105 Northwest Highway, Crystal Lake, Illinois 60014, United States

See Similar Deals
Retail74,800 SF
Sold 10/11/2022
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Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$474
Total Square Footage:74,800 SF
Transaction Type:Sale

Located in Crystal Lake, the property at 105 Northwest Highway has been sold in a recent transaction. This retail asset spans across 74,800 square feet, attracting attention in the market. The sale, facilitated by broker Jason Meier from Stan Johnson, achieved a final sale price of $35,500,000, resulting in a price per square foot of $475. The seller, Michael Tsoumpas, successfully closed the deal, marking a significant milestone in the local real estate market.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $35,500,000
  • Square Footage: 74,800
  • Price per Square Foot: $475
  • Address: 105 Northwest Highway, Crystal Lake
  • Seller: Michael Tsoumpas
  • Broker: Jason Meier - Stan Johnson

This successful sale was made possible through the collaboration of the seller, Michael Tsoumpas, and their broker representative, Jason Meier from Stan Johnson. The transaction highlights industry professionals working together to achieve favorable outcomes in the real estate market. Such sales contribute to the continued growth and development of Crystal Lake's retail sector.

Players

BROKERAGE

5 deals$115.2M volume
SELLER

Details

SOLD
IMAGE: Jason Meier DATE: 10/11/2022 ADDRESS: 105 Northwest Highway MARKET: Crystal Lake ASSET TYPE: Retail SELLER: Michael Tsoumpas BROKER: Jason Meier (@1031broker) - Stan Johnson SALE PRICE: $35,500,000 SF: 74,800 ~ PPSF: $475

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,893,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$126,124.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$168,288.11
Annual Debt Service$2,019,457.34