Al Lotfi Acquires Retail Property In Chicago For $4.15M
505 North Lake Shore Drive, Chicago, Illinois 60611, United States
$4,150,000
$546/SF
Building Size
7,600 SF
Asset Type
Retail
Closing
Aug 12, 2022
About this deal
AI
The under contract retail property located at 505 N Lake Shore Dr. 70th Floor in Chicago is set to change hands in a closed transaction. The property spans 7,600 square feet, with a sale price of $4,150,000, resulting in a price per square foot of $546. The deal is being facilitated by buyer Al Lotfi and seller Evangeline Gouletas.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,150,000
- Square Footage: 7,600
- Price Per Square Foot: $546
- Buyer: Al Lotfi
- Seller: Evangeline Gouletas
- Address: 505 N Lake Shore Dr. 70th Floor, Chicago
The involvement of buyer Al Lotfi and seller Evangeline Gouletas highlights the key individuals behind this transaction. Their respective representatives are working diligently to ensure a successful deal.
Players
Chicago 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
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93