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.
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