ABM Flooring Acquires Property From 163 Covington LLC In Bloomingdale For $1.33M
163 Covington Dr, Bloomingdale, IL 60108
$1,330,000
$88/SF
Building Size
15,000 SF
Asset Type
Warehouse
Closing
Nov 20, 2023
AI
A 15,000-square-foot industrial building located at 163 Covington Dr, Bloomingdale, IL, has been sold for $1,330,000. The transaction took place in the Bloomingdale market, showcasing the demand for industrial properties in the area.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,330,000.00
- Address: 163 Covington Dr, Bloomingdale, IL
- Market: Bloomingdale
- Seller: 163 Covington LLC
- Buyer: ABM Flooring
- Seller's Rep: Joe Karmin - Transwestern
- Buyer's Rep: Rick Anesi - Lee & Associates
Joe Karmin of Transwestern represented the seller, while Rick Anesi, vice president of Lee & Associates’ Illinois office, represented the buyer, ABM Flooring, an independent, full-service commercial flooring contractor. Anesi remarked that the building met the needs and location preferences of his client, highlighting the challenges of finding similar properties in the North DuPage market.
Players
Bloomingdale Warehouse Market Snapshot
Boundary boundary · Warehouse · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.93%
Cash-on-Cash
-3.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93