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Peerless Development & Honore Properties Acquire Retail Asset In Chicago For $19.5M

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SOLD
$19,500,000

Illinois

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Retail53,910 SF
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SOLD

Peerless Development & Honore Properties Acquire Retail Asset In Chicago For $19.5M

1415 North Kingsbury Street

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Retail53,910 SF
Sold
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Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$361
Total Square Footage:53910 SF
Transaction Type:Sale

The property asset involved in the transaction is a retail space located at 1415 North Kingsbury Street in Chicago. The total sale price for the asset is $19,500,000, encompassing a square footage of 53,910, which results in a price per square foot of $361.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $19,500,000
  • Address: 1415 North Kingsbury Street
  • Market: Chicago
  • Buyer: Peerless Development & Honore Properties
  • Seller: Westwood Financial
  • Brokers: Danny Spitz & Arjav Patel - Greenstone Partners
  • Finance: Dean Giannakopoulos - Marcus & Millichap Capital Corporation
  • Square Footage: 53,910
  • Price Per Square Foot: $361

The key individuals involved in this transaction include the buyers, Peerless Development & Honore Properties, and the seller, Westwood Financial. Representing the buyers in this deal are brokers Danny Spitz and Arjav Patel from Greenstone Partners, while the financing aspect is handled by Dean Giannakopoulos from Marcus & Millichap Capital Corporation.

Players

Danny Spitz
24 deals$215M volume
BROKER

Arjav (AJ) Patel
Greenstone Partners
7 deals$34.3M volume
BROKER

Westwood Financial
SELLER

Dean Giannakopoulos
13 deals$96.3M volume
LENDER

Details

SOLD
IMAGE: Danny Spitz, Arjav Patel & Dean Giannakopoulos DATE: 03/03/2026 ADDRESS: 1415 North Kingsbury Street MARKET: Chicago ASSET TYPE: Retail BUYER: Peerless Development & Honore Properties SELLER: Westwood Financial BROKERS: Danny Spitz & Arjav Patel (@ArjavP13) - Greenstone Partners (@GreenstonePartners) FINANCE: Dean Giannakopoulos - Marcus & Millichap Capital Corporation SALE PRICE: $19,500,000 SF: 53,910 ~ PPSF: $361

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38