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The Niki Group Acquires Bohl Farm Marketplace Strip Mall In Crystal Lake For $16M

Property Image
SOLD
$16,000,000

Illinois

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Retail97,000 SF
Sold 05/24/2023
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Property Image
SOLD

The Niki Group Acquires Bohl Farm Marketplace Strip Mall In Crystal Lake For $16M

5260 Northwest Hwy Crystal Lake, IL 60014, USA

See Similar Deals
Retail97,000 SF
Sold 05/24/2023
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$164
Total Square Footage:97,000 SF
Transaction Type:Sale

The Bohl Farm Marketplace strip mall in Crystal Lake has been sold by Chicago retail landlord Pine Tree to The Niki Group for $16 million. The retail center, located at 5260 Northwest Highway, spans 97,000 square feet and includes popular tenants such as Five Below, Party City, and Planet Fitness. The sale price equates to a price per square foot of $165.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $16,000,000
  • Date: 05/24/2023
  • Address: 5260 Northwest Highway
  • Market: Crystal Lake
  • Buyer: The Niki Group - David Trakman
  • Seller: Pine Tree
  • Lender: Wells Fargo
  • Square Footage: 97,000
  • Price Per Square Foot: $165

The Niki Group, represented by David Trakman, has made the acquisition, purchasing the Bohl Farm Marketplace strip mall from Pine Tree. Wells Fargo served as the lender for the transaction.

Players

The Niki Group
The Niki Group
BUYER
PT
Pine Tree
SELLER
Wells Fargo
Wells Fargo
LENDER

Details

SOLD
IMAGE: David Trakman DATE: 05/24/2023 ADDRESS: 5260 Northwest Highway MARKET: Crystal Lake ASSET TYPE: Retail BUYER: The Niki Group - David Trakman SELLER: Pine Tree (@PineTree.cre) LENDER: Wells Fargo (@WellsFargo) SALE PRICE: $16,000,000 SF: 97,000 ~ PPSF: $165 NOTE: Chicago retail landlord Pine Tree has sold the Bohl Farm Marketplace strip mall in Crystal Lake to The Niki Group for $16 million, making a profit from its 2016 purchase of the property. The 97,000-square-foot retail center includes tenants such as Five Below, Party City, and Planet Fitness.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$56,844.63
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