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Quantum Real Estate Advisors Facilitates $4.4M Sale Of River Place Shopping Center In Lansing
SOLD
$4,400,000
Illinois
See Similar DealsRetail47,000 SF
Sold
SOLD
Quantum Real Estate Advisors Facilitates $4.4M Sale Of River Place Shopping Center In Lansing
2 River Pl Lansing, IL 60438, USA
See Similar DealsRetail47,000 SF
Sold
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$93
Total Square Footage:47,000 SF
Transaction Type:Sale
The River Place shopping center in Lansing, a Chicago suburb, has been sold for $4.4 million. The property is a 47,000-square-foot retail space with a 97% occupancy rate. Situated at 2 River Place, the center is home to tenants such as Dollar General and Dunkin'. The transaction was facilitated by Quantum Real Estate Advisors Inc on behalf of a Wisconsin-based developer, and the property was acquired by a Virginia-based investor.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $4,400,000
- Square Footage: 47,000
- Price per Square Foot: $94
- Address: 2 River Place, Lansing
- Market: Lansing
Chad Firsel and Dan Waszak, representing Quantum Real Estate Advisors Inc, played crucial roles in the transaction. Their expertise and industry knowledge helped facilitate the successful sale of the River Place shopping center. Their involvement highlights the importance of experienced brokers in navigating complex real estate deals.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94
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