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170 N Halsted St, Chicago, ...

Focus Development Acquires Retail Property On Halsted Street In Chicago For $5M
SOLDRetail

Focus Development Acquires Retail Property On Halsted Street In Chicago For $5M

170 N Halsted St, Chicago, IL, 60661

$5,000,000

Building Size

Asset Type

Retail

Closing

Feb 14, 2017

AI

The property at 170 North Halsted St in Chicago, IL, 60661, was acquired for $5,000,000.00. It is a retail asset that will undergo a transformation into a 250k SF office building with 20k SF office floor plates and ground-level retail space.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $5,000,000.00
  • Address: 170 N Halsted St, Chicago, IL, 60661
  • Market: Chicago
  • Buyer: Focus Development
  • Seller: FCA

Scott Maesel of SVN | Chicago Commercial represented a joint venture of Shapack Partners and Focus Development in the acquisition. The property and an additional 20k SF parcel will be repurposed for the development of the new office building, which will feature 20k SF office floor plates and ground-level retail amenities.

Players

Scott Maesel

Broker

$125.4M

vol

10 deals

Broker
FD
Focus DevelopmentBuyer

Chicago Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93