facebook
Traded Co logo
Submit
Daily limit: 0/10

Rick Scardino Represents Ala Carte Entertainment In $1M Mount Prospect Retail Sale

Property Image
SOLD
$1,000,000

Illinois

See Similar Deals
Retail4,669 SF
Sold 04/30/2024
the dealplayerscompscontact
Property Image
SOLD

Rick Scardino Represents Ala Carte Entertainment In $1M Mount Prospect Retail Sale

702 North Des Plaines River Road

See Similar Deals
Retail4,669 SF
Sold 04/30/2024
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$214
Total Square Footage:4,669 SF
Transaction Type:Sale

The $1 million sale of Buddy’s Bites and Brews in Mount Prospect, IL, was successfully negotiated by Lee & Associates, closing on April 30, 2024. The retail property spans 4,669 square feet and is located at 702-718 North River Road in the Mount Prospect market.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,000,000
  • Buyer: Platinum Doors
  • Seller: Ala Carte Entertainment
  • Broker: Rick Scardino - Lee & Associates
  • SF: 4,669
  • PPSF: $214
  • Address: 702-718 North River Road
  • Market: Mount Prospect

Rick Scardino from Lee & Associates represented both parties, Ala Carte Entertainment and Platinum Doors, in this transaction. The new owner of Buddy’s Bites and Brews intends to maintain the restaurant operation with the addition of live South American music.

Players

Rick Scardino
Lee & Associates
Rick Scardino
21 deals$11.8M volume
BROKER

Details

SOLD
IMAGE: Rick Scardino DATE: 04/30/2024 ADDRESS: 702-718 North River Road MARKET: Mount Prospect ASSET TYPE: Retail BUYER: Platinum Doors SELLER: Ala Carte Entertainment BROKER: Rick Scardino (@RickScardino) - Lee & Associates (@LeeAssociatesRE) SALE PRICE: $1,000,000 SF: 4,669 ~ PPSF: $214 NOTE: Lee & Associates negotiated the $1 million sale of Buddy’s Bites and Brews in Mount Prospect, IL, closing on April 30, 2024. Both parties, Ala Carte Entertainment and Platinum Doors, were represented by Rick Scardino, who noted the new owner plans to continue operating the restaurant with added live South American music.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$53,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
Annual Debt Service$56,886.12