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Continental Realty Corporation Acquires Retail Portfolio In Cicero, Palatine, Mount Prospect & Naperville For $94M

Property Image
SOLD
$94,000,000

Illinois

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Retail903,000 SF
Sold 08/23/2022
the dealplayerscompscontact
Property Image
SOLD

Continental Realty Corporation Acquires Retail Portfolio In Cicero, Palatine, Mount Prospect & Naperville For $94M

3027 South Cicero Avenue, Cicero, Illinois 60804, United States

See Similar Deals
Retail903,000 SF
Sold 08/23/2022
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$104
Total Square Footage:903,000 SF
Transaction Type:Sale

The property involved in this closed transaction is a retail asset located at 3027 South Cicero Avenue, 425-659 East Dundee Road, 1000 South Elmhurst Road, 704 South State Route 59 & 237 West Dundee Road. The property is situated in the markets of Cicero, Palatine, Mount Prospect, and Naperville. The total square footage of the asset is 903,000, with a price per square foot of $104. The sale of this property was completed on August 23, 2022, and the transaction amount was $94,000,000.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $94,000,000
  • SF: 903,000
  • PPSF: $104
  • Market: Cicero, Palatine, Mount Prospect & Naperville

The buyer in this transaction was Continental Realty Corporation, represented by JM Schapiro. The seller was DiMucci Companies.

Players

JM Schapiro
Continental Realty Corporation
JM Schapiro
12 deals$396M volume
BUYER

Details

SOLD
IMAGE: JM Schapiro DATE: 08/23/2022 ADDRESS: 3027 South Cicero Avenue, 425-659 East Dundee Road, 1000 South Elmhurst Road, 704 South State Route 59 & 237 West Dundee Road MARKET: Cicero, Palatine, Mount Prospect & Naperville ASSET TYPE: Retail BUYER: Continental Realty Corporation (@CRCRealty) - JM Schapiro SELLER: DiMucci Companies SALE PRICE: $94,000,000 SF: 903,000 ~ PPSF: $104

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,013,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$333,962.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$445,607.96
Annual Debt Service$5,347,295.48