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Marcus & Millichap Arranges Sale Of Chicago Medical Property Net-Leased To Oak Street Health
SOLD
$3,600,000
+ 1
Illinois
See Similar DealsRetail
Sold 10/23/2023
SOLD
Marcus & Millichap Arranges Sale Of Chicago Medical Property Net-Leased To Oak Street Health
6918 West Archer Avenue
See Similar DealsRetail
Sold 10/23/2023
+ 1
Summary
ILLINOIS
Asset Type:Retail
Transaction Type:Sale
A 7,466-square-foot medical property in Chicago has been sold to a California-based private investor for $3.6 million. The property is net-leased to Oak Street Health, a healthcare company with 170 locations across 21 states. Oak Street Health was recently acquired by CVS for $10.6 billion.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,600,000
- Address: 6918 West Archer Avenue, Chicago
- Market: Chicago
Marcus & Millichap brokered the sale of this medical property, representing the interests of both the seller and the buyer. The brokers involved in the transaction were Austin Weisenbeck, Daniel Chumbley, Jack Hopkins, and Sean Sharko from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
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