George Spirrison Of Unknown Represents Seller In Sale Of Property At 263 E Rand Rd Mount Prospect
263 E Rand Rd, Mount Prospect, IL 60056
Building Size
8,125 SF
Asset Type
Retail
Closing
Nov 20, 2023
About this deal
AI
An 8,125-square-foot retail building located at 263 E Rand Rd, Mount Prospect, IL 60056, has recently been sold. The property was 23 percent occupied at the time of the transaction and is situated in Mount Prospect, approximately 23 miles northwest of Chicago.
Summary of transaction details:
- Property Type: Retail Building
- Transaction Amount: Undisclosed
- Address: 263 E Rand Rd, Mount Prospect, IL 60056
- Market: Mount Prospect
- Seller's Representative: George Spirrison
- Buyer's Representative: Simeon Spirrison
- Seller: Chicago-based private real estate investor
- Buyer: Chicago-based private investor
- Square Footage: 8,125
- Occupancy: 23 percent at the time of sale
George Spirrison and Simeon Spirrison of Adelphia Properties represented the seller. The transaction involved a Chicago-based private investor as the buyer.
Players
Mount Prospect 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