Bank on Execution
 Capital Pacific just closed a National City Bank (Now PNC) ground lease in Chicago's South Side on 87th & South Cottage Grove. Capital Pacific's dynamic marketing campaign helped generate multiple offers, and created a competitive bidding atmosphere. The Buyer ultimately closed at $2,9 M (within 16 basis points of the ask price), demonstrating how Capital Pacific's accurate pricing strategy generates offers and puts Sellers in a better negotiating position. The deal was not without obstacles: the property was on a 26,000 square foot lot and had environmental issues, but with dogged problem-solving during the escrow process, these challenges were overcome. The Buyer was an international partnership of two individuals based in the UK and South Dakota that came out of a $25M exchange and bought multiple assets across the country. |