Sterling Organization Acquires Retail Property In Chicago For $18.25M
SOLD
$18,250,000
Illinois
See Similar DealsRetail87,274 SF
Sold 03/22/2022
SOLD
Sterling Organization Acquires Retail Property In Chicago For $18.25M
Foster Avenue, Chicago, Illinois 60656, United States
See Similar DealsRetail87,274 SF
Sold 03/22/2022
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$209
Total Square Footage:87,274 SF
Transaction Type:Sale
The retail property located at the NWC North Pulaski & Foster Ave in Chicago has been sold. The transaction took place on March 22, 2022, with a sale price of $18,250,000. The property spans across 87,274 square feet, resulting in a price per square foot of $209.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $18,250,000
- Address: NWC North Pulaski & Foster Ave, Chicago
- Market: Chicago
The buyer in this transaction was Sterling Organization, represented by Brian Kosoy and Jordan Fried. The sale was facilitated by CBRE and SunLife/BentallGreenOak as the brokers involved.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$973,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$64,838.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,514.31
Annual Debt Service$1,038,171.73
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