United Group Development Acquires Multifamily Property In Schaumburg, IL For $62.8M
21 Kristin Drive, Schaumburg, Illinois 60195, United States
$62,800,000
$61,811/SF
Building Size
1,016 SF
Asset Type
—
Closing
Jun 2, 2022
About this deal
AI
The multifamily property located at 21 Kristin Dr in Schaumburg, IL has been sold. The transaction took place on 06/03/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $62,800,000
- Address: 21 Kristin Dr, Schaumburg, IL
- Market: Schaumburg, IL
- Buyer: United Group Development
- Seller: 21Kristin Place
- Units: 357
- Price per Unit (PPU): $175,910
- Square Footage (SF): 500,000
- Price per Square Foot (PPSF): $126
The buyer of this property is United Group Development, a company with over 50 years of real estate experience. They have converted over 3000 single condominium units into apartment rentals. United Group Development is actively looking to acquire large apartment complexes or condominium complexes. They operate as a family office, allowing for quick decision-making without the need to wait for board approvals. For more information, please visit their website: https://www.unitedgroupdevelopment.com.
On the Map
$62,800,000
$61,811/SF
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Players
Schaumburg CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93