Tesla Acquires Retail Property On W. Grand Avenue In Chicago For $4.6M
1053 West Grand Avenue, Chicago, IL, USA
$4,557,000
$501/SF
Building Size
9,089 SF
Asset Type
Retail
Closing
Dec 2, 2020
AI
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.
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
3.48%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93