Marcus & Millichap Sells Riverwoods Fuel Station With 20-Year Lease To Thorntons For $2.55M
1055 North Milwaukee Avenue
$2,550,000
$579/SF
Building Size
4,400 SF
Asset Type
Retail
Closing
Sep 14, 2023
About this deal
AI
The sale of a 4,400-square-foot fuel station and C-Store in Riverwoods, Illinois has been announced by Marcus & Millichap. The property, located at 1055 North Milwaukee Avenue, was sold for $2,550,000. The asset type is retail, and it is situated in the Riverwoods market. The sale price per square foot is $580.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,550,000
- Address: 1055 North Milwaukee Avenue
- Market: Riverwoods
Nicholas Kanich, a first vice president at Marcus & Millichap, handled the listing for the seller, a national real estate developer. He noted the property's attractiveness due to its long-term lease and prime suburban Chicago location. The buyer in this transaction is Thorntons, who has signed a 20-year lease for the property.
Deerfield 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
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93