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Marcus & Millichap Facilitates $4.2M Walgreens Retail Sale In Machesney Park
SOLD
$4,200,000
+ 1
Illinois
See Similar DealsRetail14,490 SF
Sold 05/09/2024
SOLD
Marcus & Millichap Facilitates $4.2M Walgreens Retail Sale In Machesney Park
1680 West Lane Road
See Similar DealsRetail14,490 SF
Sold 05/09/2024
+ 1
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$289
Total Square Footage:14,490 SF
Transaction Type:Sale
The property involved in the transaction is a 14,490-square-foot retail asset located at 1680 West Lane Road in Machesney Park. The sale price for this property was $4,200,000, amounting to $290 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,200,000
- Address: 1680 West Lane Road
- Market: Machesney Park
The deal was facilitated by Dan Yozwiak, Darpan Patel, Joe Sparano, and Steven Weinstock of Marcus & Millichap. The seller, a limited liability company, was represented by Joe Sparano, Dan Yozwiak, and Darpan Patel. Steven Weinstock of Marcus & Millichap played a role in assisting the local buyer in completing a 1031 exchange for the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$223,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71
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