Daily limit: 0/10
Former MK Restaurant Property In Chicago's River North Neighborhood Sold For $2.65M
SOLD
$2,650,000
Illinois
See Similar DealsRetail9,600 SF
Sold 06/22/2023
SOLD
Former MK Restaurant Property In Chicago's River North Neighborhood Sold For $2.65M
868 N Franklin St Chicago, IL 60610, USA
See Similar DealsRetail9,600 SF
Sold 06/22/2023
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$276
Total Square Footage:9,600 SF
Transaction Type:Sale
The former MK Restaurant property located at 868 North Franklin Street in Chicago's River North neighborhood has been sold for $2.65 million. The sale of the retail asset was facilitated by SVN Chicago Commercial, with Marcus Cook, Wayne Caplan, and Michael Elam representing the transaction. The building spans 9,600 square feet, resulting in a price per square foot of $276. The purchaser intends to redevelop the property, signaling potential changes to the area.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,650,000
- Address: 868 North Franklin Street
- Market: Chicago
- Square Footage: 9,600
- Price per Square Foot: $276
SVN Chicago Commercial played a vital role in concluding the sale of the former MK Restaurant. Marcus Cook, Wayne Caplan, and Michael Elam, representing SVN Chicago Commercial, excelled in facilitating this transaction, allowing the purchaser to move forward with their plans for the building.
Players
Details
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
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$141,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,414.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,562.35
Annual Debt Service$150,748.22
Is there something missing? Send suggestions