Newmark Brokers Secure $58M Sale Of Retail Property In South Loop, Chicago
SOLD
$58,000,000
+ 1
Illinois
See Similar DealsRetail65,568 SF
SOLD
Newmark Brokers Secure $58M Sale Of Retail Property In South Loop, Chicago
1615 South Clark Street, Chicago, Illinois 60616, United States
See Similar DealsRetail65,568 SF
+ 1
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$884
Total Square Footage:65,568 SF
Transaction Type:Sale
The retail property located at 1615 S. Clark Street in the South Loop area of Chicago has been sold for approximately $58,000,000. The transaction took place on 07/19/2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $58,000,000 (Approx.)
- Market: South Loop, Chicago
The sale of this retail property was facilitated by the brokerage firm Newmark, with Matt Berres, Samer Khalil, Karick Brown, and Carrie Frye representing the parties involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,093,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$206,061.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$274,949.59
Annual Debt Service$3,299,395.08
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