Hanley Investment Group Real Estate Advisors Sells Walgreens Property In Sugar Grove For $6.6M
376 N State Route 47,Sugar Grove,Illinois
$6,600,000
$447/SF
Building Size
14,739 SF
Asset Type
Retail
Closing
Apr 12, 2023
AI
The Hanley Investment Group Real Estate Advisors has closed a $6.6 million sale of a 14,739-square-foot retail property in Sugar Grove, Illinois. The property, located at 376 N State Route 47, is occupied by Walgreens and features a drive-thru. Constructed in 2012, the single-tenant building was sold at its full asking price to a buyer based in the metro Chicago area who was executing a 1031 exchange.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,600,000
- Address: 376 N State Route 47, Sugar Grove, IL
- Market: Sugar Grove
- Square Footage: 14,739
- Price per Square Foot: $448
The sale was facilitated by the team of Bill Asher, Jeff Lefko, and Jeremy McChesney from Hanley Investment Group Real Estate Advisors, in association with ParaSell Inc., who represented the seller. On the buyer's side, Isaiah Harf from Northmarq served as the representative. The buyer was a 1031 exchange investor looking to add this retail property to their portfolio in the Chicago metropolitan area.
Players
Mazon 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
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93