LBX Acquires Retail Property In Mt Prospect, IL For $34.6M
SOLD
$34,600,000
Illinois
See Similar DealsRetail228,000 SF
Sold 09/14/2022
SOLD
LBX Acquires Retail Property In Mt Prospect, IL For $34.6M
940 East Rand Road, Mount Prospect, Illinois 60056, United States
See Similar DealsRetail228,000 SF
Sold 09/14/2022
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$151
Total Square Footage:228,000 SF
Transaction Type:Sale
A retail property located at 940-1100 East Rand Road in Mt Prospect, IL has been sold in a recent transaction. The property spans across 228,000 square feet and was sold for a total sale price of $34,600,000, which translates to approximately $152 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $34,600,000
- Date: 09/14/2022
- Address: 940-1100 East Rand Road, Mt Prospect, IL
- Market: Mt Prospect, IL
- Purchaser: LBX - Philip Block & Robert Levy
- Seller: RPT Realty - Brian Harper
- Broker: Christian Williams - CBRE
The buyer of the retail property is represented by LBX, with Philip Block and Robert Levy being involved in the transaction. On the other hand, RPT Realty, represented by Brian Harper, acted as the seller. Christian Williams, from CBRE, served as the broker in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,845,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$122,926.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$164,021.65
Annual Debt Service$1,968,259.83
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