Fundamental Income Acquires Retail Property In Chicago For $44.7M
SOLD
$44,700,000
Illinois
See Similar DealsRetail70,000 SF
Sold 10/31/2021
SOLD
Fundamental Income Acquires Retail Property In Chicago For $44.7M
1300 North Dearborn Street, Chicago, IL 60610
See Similar DealsRetail70,000 SF
Sold 10/31/2021
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$638
Total Square Footage:70,000 SF
Transaction Type:Sale
The retail property located at 1300 N. Dearborn St. in Chicago has been sold in a transaction. The property spans approximately 70,000 square feet and has been acquired by Fundamental Income, represented by Alexi Panagiotakopoulos. The selling party, Convexity Properties, was represented by David Nelson. The deal was facilitated by Michael Marks of Cushman & Wakefield.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $44,700,000
- Market: Chicago
- Buyer: Fundamental Income - Alexi Panagiotakopoulos
- Seller: Convexity Properties - David Nelson
- Broker: Michael Marks - Cushman & Wakefield
This transaction signifies an important exchange of ownership in the retail property market. Fundamental Income, led by Alexi Panagiotakopoulos, has acquired the property from Convexity Properties, with David Nelson representing the seller. The deal was facilitated by Michael Marks from Cushman & Wakefield, who played a crucial role in bringing the parties together.
Players
SELLER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,383,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$158,809.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$211,900.80
Annual Debt Service$2,542,809.66
Is there something missing? Send suggestions