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Autumn Ridge LLC Acquires Former School District Property In Barrington For $4.9M

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SOLD
$4,900,000

Illinois

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School12,413 SF
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SOLD

Autumn Ridge LLC Acquires Former School District Property In Barrington For $4.9M

310 James Street

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School12,413 SF
Sold
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Summary

ILLINOIS
Asset Type:School
Price Per Square Foot:$394
Total Square Footage:12,413 SF
Transaction Type:Sale

The property involved in this transaction is a former Barrington School District property located at 310 East James Street in Barrington. The asset type is a school, encompassing 2 acres with a building size of 12,413 square feet. The transaction was completed for a sale price of $4,900,000, reflecting a price per square foot of $395.

Summary of transaction details:

  • Property Type: School
  • Transaction Amount: $4,900,000
  • Address: 310 East James Street
  • Market: Barrington
  • Acres: 2
  • Building Size: 12,413 SF
  • Price Per Square Foot: $395
  • Buyer: Autumn Ridge LLC
  • Seller: Pablo Barreiro & Martin Saidon - Fortec
  • Broker: Milo Spector - NorthMarq

This transaction involved Autumn Ridge LLC acquiring the property from sellers Pablo Barreiro and Martin Saidon, representing Fortec. The building serves 200 students and was renovated for use as an early childhood education facility known as The Nest Schools. Importantly, the transaction included a 17-year lease that will transfer to the buyer.

Players

Milo Spector
6 deals$42.3M volume(415) 610-8970
BROKER

Details

SOLD
IMAGE: Pablo Barreiro, Martin Saidon & Milo Spector DATE: 01/27/2025 ADDRESS: 310 East James Street MARKET: Barrington ASSET TYPE: School ~ ACRES: 2 BUYER: Autumn Ridge LLC SELLER: Pablo Barreiro & Martin Saidon - Fortec (@Fortecnow) BROKER: Milo Spector - NorthMarq (@NorthMarq) SALE PRICE: $4,900,000 SF: 12,413 ~ PPSF: $395 NOTE: Fortec sold a former Barrington School District property, now an early childhood education facility, to Autumn Ridge LLC for $4.9M, after acquiring it for $695K in early 2024. The 12,413-square-foot building, serving 200 students, was renovated for The Nest Schools and includes a 17-year lease that transfers to the buyer.

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

$261,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,408.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,228.50
Annual Debt Service$278,742.00