Rick Scardino Represents Ala Carte Entertainment In $1M Mount Prospect Retail Sale
702 North Des Plaines River Road
$1,000,000
$214/SF
Building Size
4,669 SF
Asset Type
Retail
Closing
Apr 30, 2024
AI
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
Mount Prospect 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93