Marcus & Millichap Sells Retail Property In Gage Park, Chicago For $7M
5505 S Kedzie Ave, South Side, Chicago, IL, USA
$7,000,000
$472/SF
Building Size
14,812 SF
Asset Type
Retail
Closing
Oct 12, 2021
About this deal
AI
The retail property located at 5505 S. Kedzie Ave. in Gage Park, Chicago has been sold for $7,000,000. The transaction took place on October 13, 2021. The property spans 14,812 square feet, resulting in a price per square foot of $473.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,000,000
- Address: 5505 S. Kedzie Ave., Gage Park, Chicago
- Market: Gage Park, Chicago
- Brokers: Nicholas Kanich & Mitchell Kiven - Marcus & Millichap
Nicholas Kanich and Mitchell Kiven from Marcus & Millichap represented the parties involved in this sale. They facilitated the transaction of this retail property in Gage Park.
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93