Sterling Bay & JPMorgan Asset Management Sell Retail Asset In Chicago To Buyer JLL For $430M
SOLD
$430,000,000
Illinois
See Similar DealsRetail575,208 SF
Sold 10/09/2020
SOLD
Sterling Bay & JPMorgan Asset Management Sell Retail Asset In Chicago To Buyer JLL For $430M
110 N Carpenter St, Chicago, IL 60607, Estados Unidos
See Similar DealsRetail575,208 SF
Sold 10/09/2020
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$747
Total Square Footage:575,208 SF
Transaction Type:Sale
The retail property located at 110 North Carpenter Street in Chicago has been sold in a recent transaction. The property, owned by Sterling Bay and JPMorgan Asset Management, was listed for sale. The deal was facilitated by the real estate agency JLL. The sale price for the property was $430,000,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $430,000,000
- Address: 110 North Carpenter Street
- Market: Chicago
- Seller: Sterling Bay & JPMorgan Asset Management
- Broker: JLL
This transaction involved key individuals and companies in the real estate market. Sterling Bay and JPMorgan Asset Management acted as the sellers of the retail property. JLL, a reputable real estate agency, represented the sellers in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$22,933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,527,699.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,038,419.38
Annual Debt Service$24,461,032.51
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