Retail Property In Elgin Sold For $2.1M By Marcus & Millichap
1881 Larkin Ave Elgin, IL 60123, USA
$2,125,000
$202/SF
Building Size
10,500 SF
Asset Type
Retail
Closing
Jun 9, 2023
About this deal
AI
A retail property located at 1881 Larkin Avenue in Elgin, Illinois, has been sold for $2,125,000. The transaction was facilitated by Marcus & Millichap, with Adrian Mendoza, Austin Weisenbeck, and Sean Sharko representing the brokerage firm. The property is a fully occupied center, anchored by Advance Auto Parts, and it received multiple offers from both in-state and out-of-state investors.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $2,125,000
- Address: 1881 Larkin Avenue, Elgin, Illinois
- Market: Elgin
- Square Footage: 10,500
- Price Per Square Foot: $202
Marcus & Millichap, through their brokers Adrian Mendoza, Austin Weisenbeck, and Sean Sharko, successfully facilitated the sale of the retail property. The fully occupied center, anchored by Advance Auto Parts, attracted interest from investors within the state as well as out-of-state investors. The transaction highlights the strong demand for retail properties in Elgin, Illinois.
Players
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
7.46%
Cash-on-Cash
-2.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93