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Palos Heights Property Sold For $15.5 Million With Seller's Rep Jimmy Goodman

Property Image
SOLD
$15,500,000
Jimmy Goodman
Randy Blankstein

Illinois

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Retail57,685 SF
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Property Image
SOLD

Palos Heights Property Sold For $15.5 Million With Seller's Rep Jimmy Goodman

12803 Harlem Ave, Palos Heights, IL 60463, USA

See Similar Deals
Retail57,685 SF
Jimmy Goodman
Randy Blankstein
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$268
Total Square Footage:57,685 SF
Transaction Type:Sale

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.

Players

Jimmy Goodman
The Boulder Group
Jimmy Goodman
65 deals$279.2M volume
BROKER
Randy Blankstein
The Boulder Group
Randy Blankstein
70 deals$347.1M volume(847) 562-0003
BROKER

Details

SOLD
IMAGE: 12803 Harlem Ave, Palos Heights, IL 60463, USA MARKET: Palos Heights SELLER'S REP: Jimmy Goodman-The Boulder Group BUYER: Unknown SELLER: PRICE: $15,500,000.00 SF: 57685

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$826,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89