East Coast Acquisitions Acquires Retail Property In River Grove For $30.5M
SOLD
$30,500,000
Illinois
See Similar DealsRetail193,000 SF
Sold 08/19/2022
SOLD
East Coast Acquisitions Acquires Retail Property In River Grove For $30.5M
SEC Cumberland & Belmont Ave, River Grove, IL 60171
See Similar DealsRetail193,000 SF
Sold 08/19/2022
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$158
Total Square Footage:193,000 SF
Transaction Type:Sale
The retail property located at the SEC Cumberland & Belmont in River Grove has been sold. The transaction was completed on August 19, 2022. The property is comprised of approximately 193,000 square feet and is situated in a prime market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $30,500,000
- Buyer: East Coast Acquisitions - Elliot Sasson
- Broker: Mid-America Real Estate Corporation
- Market: River Grove
Elliot Sasson, representing East Coast Acquisitions, acquired the property. The sale was facilitated by Mid-America Real Estate Corporation. The property was purchased for a price of $30,500,000, resulting in a price per square foot of $158.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,626,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$108,360.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$144,585.56
Annual Debt Service$1,735,026.72
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