Magallen Development Sells Condo In Lakeshore East, Chicago For $1.889M With Broker Deanna Barakat
SOLD
$1,889,000
+ 1
Illinois
See Similar Deals10,000 SF
Sold 05/16/2022
SOLD
Magallen Development Sells Condo In Lakeshore East, Chicago For $1.889M With Broker Deanna Barakat
363 East Wacker Drive, Chicago, Illinois 60601, United States
See Similar Deals10,000 SF
Sold 05/16/2022
+ 1
Summary
ILLINOIS
Price Per Square Foot:$188
Total Square Footage:10,000 SF
Transaction Type:Sale
The Lakeshore East neighborhood in Chicago recently saw the sale of a condominium located at 363 E Wacker Dr. The condo, developed by Magallen Development, was sold for a transaction amount of $1,889,000. The property spans 2,210 square feet, resulting in a price per square foot of $855. This transaction took place on May 16, 2022.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $1,889,000
- Square Footage: 2,210
- Price Per Square Foot: $855
- Address: 363 E Wacker Dr
- Market: Lakeshore East, Chicago
The sale of this condo was facilitated by Deanna Barakat from Berkshire Hathaway HomeServices Greater Chicago. As the representative of Magallen Development, Deanna Barakat played a vital role in ensuring a successful transaction. With their expertise, they were able to secure a favorable deal for both the seller and the buyer.
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BROKERAGE
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$100,746.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,711.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,954.82
Annual Debt Service$107,457.88
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