Armco Properties Sells Retail Centers In Mokena And Woodridge For $6.8 Million
19102 88th Avenue, 19140 88th Avenue, 8258 Janes Avenue & 8290 Janes Avenue
$6,800,000
$42/SF
Building Size
39,687 SF
Asset Type
Retail
Closing
Jul 23, 2024
About this deal
AI
The transaction involved two strip centers located at 19102-19140 88th Avenue & 8258-8290 Janes Avenue in the Mokena and Woodridge markets. The properties were sold for a total of $6,800,000, encompassing a total square footage of 39,687, resulting in a price per square foot of $171. Both properties are fully leased, featuring long-term tenants, which adds stability to the investment.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,800,000
- Square Footage: 39,687
- Price per Square Foot: $171
- Address: 19102-19140 88th Avenue & 8258-8290 Janes Avenue
- Market: Mokena & Woodridge
- Seller: Armco Properties
- Broker: Peter Block & Rachel Patten - Colliers
Peter Block and Rachel Patten from Colliers represented the seller, Armco Properties, in this transaction. This sale marks the third successful transaction facilitated by Colliers for Armco Properties in the current year, underscoring the brokers' expertise in handling retail property sales.
On the Map
$6,800,000
$42/SF
Retail
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Players
Mokena 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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93