WS Development Acquires Retail Property In Wilmette For $110M
SOLD
$110,000,000
Illinois
See Similar DealsRetail350,000 SF
Sold 04/11/2022
SOLD
WS Development Acquires Retail Property In Wilmette For $110M
3200 Lake Avenue, Wilmette, Illinois 60091, United States
See Similar DealsRetail350,000 SF
Sold 04/11/2022
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$314
Total Square Footage:350,000 SF
Transaction Type:Sale
The retail property located at 3200-3232 Lake Ave in Wilmette has been sold for a total of $110,000,000. The property spans approximately 350,000 square feet, resulting in a price-per-square-foot of $314. The buyer in this transaction is WS Development, while the seller is Newport Capital Partners represented by Derrick McGavic.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $110,000,000
- Address: 3200-3232 Lake Ave, Wilmette
- Market: Wilmette
In this deal, WS Development has acquired the retail property located at 3200-3232 Lake Ave in Wilmette from Newport Capital Partners, with Derrick McGavic serving as its representative.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$390,806.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$521,456.12
Annual Debt Service$6,257,473.43
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