An Affiliate Of Renaissance Capital LLC Acquires Property At 1301 W Madison St For $13.6M
SOLD
$13,600,000
Illinois
See Similar DealsRetail24,863 SF
SOLD
An Affiliate Of Renaissance Capital LLC Acquires Property At 1301 W Madison St For $13.6M
1301 W Madison St, Chicago, IL, 60607
See Similar DealsRetail24,863 SF
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$547
Total Square Footage:24,863 SF
Transaction Type:Sale
The retail property located at 1301 W Madison St, Chicago, IL, 60607 was sold for $13,600,000.00. This asset encompasses a total of 24,863 square feet and is fully leased to three tenants, indicating a stable income stream from the property. The transaction occurred in the Chicago market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $13,600,000.00
- Square Footage: 24,863
- Address: 1301 W Madison St, Chicago, IL, 60607
- Market: Chicago
- Seller: 1940 Y Century Associates LLC
- Seller's Representative: Keely Polczynski, CBRE
- Buyer: An affiliate of Renaissance Capital LLC
Keely Polczynski of CBRE represented the seller in this transaction, which is an entity controlled by Blatteis & Schnur Inc., based in Los Angeles. The buyer of the property is associated with Renaissance Capital LLC, marking their involvement in acquiring the asset.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$725,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,317.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,470.94
Annual Debt Service$773,651.26
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