SOLD
Standard Cos Acquires 371-Unit Multifamily Property In Chicago For $40M
Chicago
Units
371
Asset Type
—
Closing
Dec 18, 2022
About this deal
AI
The multifamily property located at 5550 North Kenmore Ave in Chicago was recently sold for $40,000,000. The transaction involved 371 units, equating to a price per unit of $107,817. The sale was facilitated by the brokerage firm Berkadia.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Units: 371
- Price Per Unit: $107,817
- Address: 5550 North Kenmore Ave
- Market: Chicago
The buyer of the property was Standard Cos, represented by Jeffrey Jaeger as Standard Cos' broker. The seller was Eagle Management RE LLC.
On the Map
Chicago 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93