Tesla Acquires Retail Property On W. Grand Avenue In Chicago For $4.6M
SOLD
$4,557,000
Illinois
See Similar DealsRetail9,089 SF
Sold 12/03/2020
SOLD
Tesla Acquires Retail Property On W. Grand Avenue In Chicago For $4.6M
1053 West Grand Avenue, Chicago, IL, USA
See Similar DealsRetail9,089 SF
Sold 12/03/2020
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$501
Total Square Footage:9,089 SF
Transaction Type:Sale
A retail property located at 1053 W. Grand Avenue in Chicago has been sold for a price of $4,557,000. The property spans 9,089 square feet, resulting in a price per square foot of $501. The transaction took place on December 3, 2020.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,557,000
- Address: 1053 W. Grand Avenue
- Market: Chicago
The property was acquired by @Tesla, a well-known tenant in the retail industry. The deal was facilitated by the brokers Jason St. John, Danny Spitz, and Greg Dietz from Greenstone Partners.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$243,040.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,190.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,602.50
Annual Debt Service$259,230.06
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