Petrakis Realty Group Acquires Net-Leased Retail Building In New Lenox For $1.15M
1101 West Laraway Rd, New Lenox, Illinois 60451, USA
$1,150,000
$435/SF
Building Size
2,640 SF
Asset Type
Retail
Closing
May 19, 2023
AI
Petrakis Realty Group has acquired a net-leased retail building in New Lenox, Illinois. The property, located at 1101 West Laraway Road, spans 2,640 square feet and sits on 1.23 acres of land. The sale price for this transaction was $1,150,000, resulting in a price per square foot of $436. The asset is situated in the New Lenox market.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $1,150,000
- Address: 1101 West Laraway Road
- Market: New Lenox
- Size: 2,640 square feet
- Lot Size: 1.23 acres
The buyer, Petrakis Realty Group, closed this deal with the seller, MMV LLC. The transaction was facilitated by two brokers, Nick Anzalone from Silber Investment Properties representing Petrakis Realty Group, and Adam Silber representing MMV LLC. The property is currently occupied by 7-Eleven.
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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93