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7785 Frontage Road

Danny Betesh & Joe Betesh Of Premier Retail Equities Purchase Retail Property In Cicero For $8M
SOLDRetail

Danny Betesh & Joe Betesh Of Premier Retail Equities Purchase Retail Property In Cicero For $8M

7785 Frontage Road & 7700 Frontage Road

$8,000,000

$24/SF

Building Size

330,450 SF

Asset Type

Retail

Closing

Mar 7, 2024

AI

The property involved in the transaction is a retail asset located at 7785 Frontage Road & 7700 Frontage Road in Cicero. The sale price for this property was $8,000,000 with a total square footage of 165,225 and a price per square foot of $48.

Summary of transaction details:

Michael Cleeman of Cleeman Realty Group represented the buyer, Danny Betesh & Joe Betesh of Premier Retail Equities, in this transaction. Premier Retail Equities focuses on acquiring value-add shopping centers across the United States, as indicated by the note provided by the buyers.

Players

Michael Cleeman

Cleeman Realty Group

Broker

$185.6M

vol

19 deals

Broker

Cicero 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

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93