Out Of State Investor Acquires Retail Strip Center In Northfield For $2.4M
SOLD
$2,400,000
Illinois
See Similar DealsRetail6,600 SF
Sold 06/09/2017
SOLD
Out Of State Investor Acquires Retail Strip Center In Northfield For $2.4M
1900 Willow Rd, Northfield, IL, 60093
See Similar DealsRetail6,600 SF
Sold 06/09/2017
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$363
Total Square Footage:6,600 SF
Transaction Type:Sale
The retail strip center located at 1900 Willow Rd, Northfield, IL, 60093 in the Northbrook market was sold for $2,400,000.00. The property spans 6,600 square feet and was previously fully leased to three tenants, including Dunkin Donuts. The area is a vibrant retail and dining hub along Willow Road and Northfield Road, attracting significant interest from investors.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $2,400,000.00
- Market: Northbrook
- Seller's Rep: Wayne Caplan(SVN)
- Buyer: Out of State Investor
- SF: 6600
Wayne Caplan, the Senior Vice President of SVN Chicago Commercial, played a crucial role in representing the seller in this transaction. The buyer, an out-of-state investor, saw the potential in this property due to its prime location near major retailers like Mariano’s and Starbucks. Northfield's strategic positioning between interstates 94 and 294, within close proximity to downtown Chicago, further adds to its appeal for both investors and retail tenants.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69
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