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572 Weston Ridge Drive

Updated Dec 4, 2024

Brewster Hague And Malek Abdulsamad Of Greenstone Partners Brokers Retail And Land Sales For $2.35M
SOLDRetail

Brewster Hague And Malek Abdulsamad Of Greenstone Partners Brokers Retail And Land Sales For $2.35M

572 Weston Ridge Drive & 9008 Gross Point Road

$2,345,786

Building Size

Asset Type

Retail

Closing

Sep 23, 2024

About this deal

AI

The transaction involved the sale of two assets: a retail property and a land development site. The retail property is located at 572 Weston Ridge Drive in Naperville and consists of a multi-tenant layout with 7,719 square feet, sold for $1.7 million. The land development site is situated at 9008-9018 Gross Point Road in Skokie, Illinois, totaling 22,000 square feet and sold for $645,786. The combined transaction value for both assets amounts to $2,345,786.

Summary of transaction details:

  • Property Type: Retail & Land
  • Transaction Amount: $2,345,786
  • Retail Property Address: 572 Weston Ridge Drive, Naperville
  • Land Development Site Address: 9008-9018 Gross Point Road, Skokie
  • Retail Property Sale Price: $1,700,000
  • Land Development Site Sale Price: $645,786
  • Square Footage of Retail Property: 7,719 sq ft
  • Square Footage of Land Development Site: 22,000 sq ft
  • Brokers: Brewster Hague & Malek Abdulsamad - Greenstone Partners

Malek Abdulsamad, serving as the Director, represented the retail property transaction, which was 75% occupied by a dental practice. Both Abdulsamad and Brewster Hague also played key roles in facilitating the sale of the land development site in Skokie, enhancing Greenstone Partners' presence in the market.

Players

Brewster Hague

Greenstone Partners

Broker

$71.6M

vol

24 deals

Broker

Naperville 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

6.76%

Cash-on-Cash

-1.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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