Core Acquisitions Purchases Rice Lake Square In Wheaton From Grosvenor Americas Inc
225 Rice Lake Square
$34,000,000
$135/SF
Building Size
251,000 SF
Asset Type
Retail
Closing
Jun 11, 2024
About this deal
AI
The Rice Lake Square shopping center in Wheaton was recently purchased by Core Acquisitions for $34 million. The property spans 251,000 square feet and is located at 225 Rice Lake Square.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $34,000,000
- Buyer: Adam Firsel - Core Acquisitions
- Seller: Grosvenor Americas Inc.
- Brokers: Rick Drogosz & Stanley Nitzberg - Mid-America Real Estate Group
- Market: Wheaton
Core Acquisitions, a Chicago-based firm, plans to enhance the appeal of the shopping center through upgrades, tenant leasing focus, and property improvements. The 251,000-square-foot space includes a 68,000-square-foot Pete’s Fresh Market as its anchor tenant, making it a strategic investment in the Chicagoland area.
On the Map
$34,000,000
$135/SF
Retail
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Players
Wheaton 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
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93