Newmark Brokers Secure $58M Sale Of Retail Property In South Loop, Chicago
1615 South Clark Street, Chicago, Illinois 60616, United States
$58,000,000
$884/SF
Building Size
65,568 SF
Asset Type
Retail
Closing
Nov 10, 2022
About this deal
AI
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.
The retail sale at 1615 South Clark Street, Chicago, Illinois 60616, United States in Chicago, Illinois sold for $58M in 2022. The building is 65,568 square feet, implying about 884 per square foot on the published price. Carrie Frye, Karick Brown, Samer Khalil, Matt Berres appear on the sale alongside Newmark. This page is the Chicago, Illinois file for the 1615 South Clark Street, Chicago, Illinois 60616, United States retail sold: pricing, party profiles, and other closed retail comps from the same Chicago sit in the Market section below. Filter that Chicago retail set by closing date to see what else sold near 1615 South Clark Street, Chicago, Illinois 60616, United States around 2022. Published consideration for 1615 South Clark Street, Chicago, Illinois 60616, United States is $58M, dated 2022. Cite this Newmark Brokers Secure $58M Sale Of Retail Property In South Loop, Chicago sale when underwriting similar retail product around Chicago, Illinois.
Players
Chicago Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Carrie Frye to view all their deals.
Browse Illinois retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93