Storage Post Acquires Self Storage Portfolio In Chicago From Honore Holdings For $11.2 Million
3215 West Lawrence Avenue & 5145 North Clark Street
$11,200,000
$110/SF
Building Size
101,716 SF
Asset Type
Self Storage
Closing
Dec 24, 2024
AI
A two-property self-storage portfolio located at 3215 West Lawrence Avenue and 5145 North Clark Street in Chicago has been sold for $11,200,000. The properties encompass a total of 50,858 square feet, equating to a price per square foot of $220. The facilities offer a mix of climate-controlled and non-climate-controlled units.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $11,200,000
- Square Footage: 50,858
- Address: 3215 West Lawrence Avenue & 5145 North Clark Street
- Buyer: Bruce C. Roch, Jr. - Storage Post
- Seller: Honore Holdings
- Brokers: Jeffrey Herrmann & Sean Delaney - Marcus & Millichap
The transaction was facilitated by brokers Jeffrey Herrmann and Sean Delaney from Marcus & Millichap, highlighting their role in brokering this significant self-storage portfolio sale. The buyer, Bruce C. Roch, Jr., represented the acquiring company, Storage Post, during the transaction.
Players
Chicago Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.42%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93