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Elliott Bay Capital Trust And Pantheon Acquire Retail Property At 850 North Milwaukee Avenue For $18.7M

Property Image
SOLD
$18,700,000
Michael Nieder
Keely Polczynski
Alex Sharrin

Illinois

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Retail48,942 SF
Sold 09/11/2024
the dealplayerscompscontact
Property Image
SOLD

Elliott Bay Capital Trust And Pantheon Acquire Retail Property At 850 North Milwaukee Avenue For $18.7M

850 North Milwaukee Avenue

See Similar Deals
Retail48,942 SF
Sold 09/11/2024
Michael Nieder
Keely Polczynski
Alex Sharrin
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$382
Total Square Footage:48,942 SF
Transaction Type:Sale

The transaction involved a retail property located at 850 North Milwaukee Avenue in Chicago. The sale price was $18,700,000, and the property encompasses 48,942 square feet, with a price per square foot of $382.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $18,700,000
  • Square Footage: 48,942
  • Address: 850 North Milwaukee Avenue
  • Market: Chicago
  • Buyer: Elliott Bay Capital Trust & Pantheon
  • Seller: Centrum Realty & Hubbard Street Group
  • Brokers: Alex Sharrin, Keely Polczynski & Michael Nieder - JLL

The property was sold to Elliott Bay Capital Trust and Pantheon by Centrum Realty and Hubbard Street Group. The transaction was facilitated by JLL, with Alex Sharrin, Keely Polczynski, and Michael Nieder serving as the brokers in this deal.

Players

Alex Sharrin
JLL
Alex Sharrin
35 deals$908M volume(305) 913-5545
BROKER
Keely Polczynski
Newmark
Keely Polczynski
10 deals$402M volume
BROKER
Keely Polczynski
Newmark
Keely Polczynski
10 deals$402M volume
BROKER
Michael Nieder
JLL
Michael Nieder
17 deals$419.6M volume(312) 300-7300
BROKER

Details

SOLD
IMAGE: Michael Nieder, Alex Sharrin & Keely Polczynski DATE: 09/11/2024 ADDRESS: 850 North Milwaukee Avenue MARKET: Chicago ASSET TYPE: Retail BUYER: Elliott Bay Capital Trust & Pantheon SELLER: Centrum Realty & Hubbard Street Group BROKERS: Alex Sharrin, Keely Polczynski (@KeelyBosau) & Michael Nieder - JLL (@JLL) SALE PRICE: $18,700,000 SF: 48,942 ~ PPSF: $382 NOTE: JLL brokered the $18.7M sale of Hawthorne Commons, a 48,942-square-foot retail and medical property in Vernon Hills anchored by Northwestern Medicine. The seller, represented by JLL's Alex Sharrin, Keely Polcyznski, and Michael Nieder, sold to Elliott Bay Capital Trust and Pantheon.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$66,437.16
Cash-on-Cash Return-1.27%
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