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Swanson Development Group Acquires Mariano's Supermarket In Northfield, IL For $13.1M

Property Image
SOLD
$13,100,000
Michael Nieder
Alex Sharrin
Mohsin Mirza
+ 2

Illinois

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Retail47,732 SF
Sold 08/22/2023
the dealplayerscompscontact
Property Image
SOLD

Swanson Development Group Acquires Mariano's Supermarket In Northfield, IL For $13.1M

1822 Willow Rd Northfield, IL 60093, USA

See Similar Deals
Retail47,732 SF
Sold 08/22/2023
Michael Nieder
Alex Sharrin
Mohsin Mirza
+ 2
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$274
Total Square Footage:47,732 SF
Transaction Type:Sale

The $13.1 million sale of a 47,732-square-foot Mariano's supermarket in Northfield, Illinois has been successfully closed by JLL Capital Markets. The property, located in a prime location in the Chicago metropolitan area, attracted the attention of buyer Swanson Development Group. The potential for future upside in rents also contributed to the appeal of the asset.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $13,100,000
  • Square Footage: 47,732
  • Address: 1822 Willow Road, Northfield, IL
  • Market: Northfield

Swanson Development Group, represented by JLL, acted as the buyer in this transaction. The seller was Stockbridge. The brokers involved in the deal were Alex Sharrin, Michael Nieder, Mohsin Mirza, Charles Shehan, and Caity Tirakian from JLL.

Players

Alex Sharrin
JLL
Alex Sharrin
35 deals$908M volume(305) 913-5545
BROKER
Michael Nieder
JLL
Michael Nieder
17 deals$419.6M volume(312) 300-7300
BROKER
Mohsin Mirza
JLL
Mohsin Mirza
3 deals$74.4M volume
BROKER
Charles Shehan
JLL
Charles Shehan
1 deal$13.1M volume(847) 609-3209
BROKER
Caity Tirakian
JLL
Caity Tirakian
2 deals$22.1M volume(312) 528-3650
BROKER
Swanson Development Group
Swanson Development Group
BUYER
Stockbridge
Stockbridge
SELLER

Details

SOLD
IMAGE: Michael Nieder & Alex Sharrin DATE: 08/22/2023 ADDRESS: 1822 Willow Road MARKET: Northfield ASSET TYPE: Retail BUYER: Swanson Development Group SELLER: Stockbridge BROKERS: Alex Sharrin, Michael Nieder, Mohsin Mirza, Charles Shehan & Caity Tirakian - JLL (@JLL) SALE PRICE: $13,100,000 SF: 47,732 ~ PPSF: $274 NOTE: JLL Capital Markets has closed the $13.1 million sale of a 47,732-square-foot Mariano's supermarket in Northfield, Illinois. The property's prime location in the Chicago metropolitan area and its potential for future upside in rents attracted buyer Swanson Development Group, represented by JLL.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$698,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$46,541.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,100.68
Annual Debt Service$745,208.20