North Shore Bank Sells Property At 2321 W Algonquin Rd With Seller's Rep Kevin Kaplan, Bruce Kaplan
2321 W Algonquin Rd, Algonquin, IL...
Building Size
5,085 SF
Asset Type
Retail
Closing
Nov 19, 2023
About this deal
AI
The property involved in this transaction is a 5,085-square-foot building located at 2321 W Algonquin Rd, Algonquin, IL. The asset was formerly occupied by Fradillio’s restaurant and features a drive-thru. It is situated in the Algonquin market.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not disclosed
- Address: 2321 W Algonquin Rd, Algonquin, IL
- Seller: North Shore Bank
- Buyer: Unknown
- Seller's Representative: Kevin Kaplan, Bruce Kaplan - Premier Commercial Realty
- Buyer's Representative: Eddie Hernandez - Casa Grande Realty
North Shore Bank was the seller in this transaction, while the buyer, whose identity remains undisclosed, intends to open a Burrito Parrilla Mexicana restaurant at this location. Eddie Hernandez of Casa Grande Realty represented the buyer in the deal.
On the Map
Retail
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Algonquin 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93