East Coast Acquisitions Acquires Retail Property In River Grove For $30.5M
SEC Cumberland & Belmont Ave, River Grove, IL 60171
$30,500,000
$158/SF
Building Size
193,000 SF
Asset Type
Retail
Closing
Aug 18, 2022
AI
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.
River Grove Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93