Marcus & Millichap Sells Hawthorn Village Commons Retail Center In Vernon Hills For $10.5M
220 Hawthorn Village Commons
$10,500,000
$202/SF
Building Size
51,815 SF
Asset Type
Retail
Closing
Oct 22, 2024
AI
The property asset involved in the transaction is Hawthorn Village Commons, a retail strip center located at 220 Hawthorn Village Commons in Vernon Hills, Illinois. The total sale price for the property was $10,500,000, with a size of 51,815 square feet and an average price per square foot of $203. The asset encompasses 1.11 acres.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,500,000
- Address: 220 Hawthorn Village Commons
- Market: Vernon Hills
- Size: 51,815 square feet
- Price per Square Foot: $203
- Acres: 1.11
- Representing Broker: Adrian Mendoza, Austin Weisenbeck & Sean Sharko - Marcus & Millichap
The transaction involved a local investment group as the seller and a buyer who completed a 1031 exchange, facilitated by the brokerage firm Marcus & Millichap. Additionally, broker Steven Weinstock provided assistance in the process, which included tenants such as Hobby Lobby, Dollar Tree, and Panda Express.
Players
Vernon Hills 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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93