Continental Realty Corporation Acquires Retail Portfolio In Cicero, Palatine, Mount Prospect & Naperville For $94M
3027 South Cicero Avenue, Cicero, Illinois 60804, United States
$94,000,000
$104/SF
Building Size
903,000 SF
Asset Type
Retail
Closing
Aug 22, 2022
AI
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.
Cicero Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93