Marcus & Millichap Sells Lakeview Plaza Retail Center In Lake Zurich For $7.7M
41 Rand Road
$7,700,000
$146/SF
Building Size
52,400 SF
Asset Type
Retail
Closing
Dec 2, 2024
AI
The property asset involved in this transaction is Lakeview Plaza, a retail center located at 41 South Rand Road in Lake Zurich, Illinois. The asset was sold for $7,700,000 and encompasses a total square footage of 52,400. The price per square foot for this retail center is calculated at $147. This property was originally built in 1987.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,700,000
- Square Footage: 52,400
- Price Per Square Foot: $147
- Address: 41 South Rand Road, Lake Zurich
- Market: Lake Zurich
The transaction was brokered by Marcus & Millichap, with Adrian Mendoza, Sean Sharko, and Austin Weisenbeck representing the seller and securing the buyer, a family office that specializes in shopping centers. Their expertise contributed to the successful completion of this retail property sale.
Players
Lake Zurich 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
2.06%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93