Reisa Jiang Acquires Retail Property On Torrence Avenue In Calumet City, IL For $3.85M With Broker Reps Eric Mandell, Luc Hawkshaw, Kelly Hawkshaw & Jeffrey Ahn - Ally Commercial Real Estate
1243 Torrence Ave Calumet City, IL 60409, USA
$3,850,000
$427/SF
Building Size
9,014 SF
Asset Type
Retail
Closing
Jul 17, 2023
AI
A retail property located at 1243 Torrence Avenue in Calumet City, IL has been sold for $3,850,000. The property spans 9,014 square feet and was sold at a price per square foot of $427.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,850,000
- Address: 1243 Torrence Avenue, Calumet City, IL
- Market: Calumet City, IL
- Buyer: Reisa Jiang
- Seller: Eric Wong
- Brokers: Eric Mandell, Luc Hawkshaw, Kelly Hawkshaw, and Jeffrey Ahn - Ally Commercial Real Estate
The deal was facilitated by the broker team consisting of Eric Mandell, Luc Hawkshaw, Kelly Hawkshaw, and Jeffrey Ahn from Ally Commercial Real Estate. They represented both the buyer, Reisa Jiang, and the seller, Eric Wong, in this transaction.
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
4.12%
Cash-on-Cash
-1.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93