Palos Heights Property Sold For $15.5 Million With Seller's Rep Jimmy Goodman
12803 Harlem Ave, Palos Heights, IL 60463, USA
$15,500,000
$268/SF
Building Size
57,685 SF
Asset Type
Retail
Closing
Nov 20, 2023
About this deal
AI
The property asset involves a single-tenant retail location, net leased to Jewel-Osco, priced at $15,500,000.00. This 57,685-square-foot building is situated at 12803 Harlem Ave, Palos Heights, IL, on a nearly 10-acre parcel within the Palos Heights market, located about 25 miles southwest of Chicago.
Summary of transaction details:
- Property Type: Single-tenant retail
- Transaction Amount: $15,500,000.00
- Address: 12803 Harlem Ave, Palos Heights, IL
- Square Footage: 57,685 sq. ft.
- Seller's Representative: Jimmy Goodman - The Boulder Group
- Buyer: Unknown
- Seller: Private real estate investment company based in the Southwest
- Buyer’s Group: Midwest-based family partnership
The deal was facilitated by Randy Blankstein and Jimmy Goodman of The Boulder Group, who represented the seller in this transaction.
On the Map
$15,500,000
$268/SF
Retail
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Players
Palos Heights 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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93