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2321 W Algonquin Rd, Algonq...

North Shore Bank Sells Property At 2321 W Algonquin Rd With Seller's Rep Kevin Kaplan, Bruce Kaplan
SOLDRetail

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

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.

Players

Bruce Kaplan

Premier Commercial Realty

Broker

$2M

vol

2 deals

Broker

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