United Group Development Acquires 427-Unit Condo In Elk Grove Village For $56.8M
SOLD
$56,800,000
Illinois
See Similar Deals51,000 SF
Sold 02/11/2022
SOLD
United Group Development Acquires 427-Unit Condo In Elk Grove Village For $56.8M
908 Ridge Square, Elk Grove Village, Illinois 60007, United States
See Similar Deals51,000 SF
Sold 02/11/2022
Summary
ILLINOIS
Price Per Square Foot:$1,113
Total Square Footage:51,000 SF
Transaction Type:Sale
A condo located at 908 Ridge Square in Elk Grove Village has been sold in a recent transaction. The property, consisting of 427 units, was sold for a total price of $56,800,000. This translates to a price per unit of $133,021.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $56,800,000
- Address: 908 Ridge Square, Elk Grove Village
- Market: Elk Grove Village
The buyer in the transaction was United Group Development, represented by Michael Dobrov. On the other hand, the seller was RDM Development, represented by Robert Mosky.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,029,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$201,798.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$269,260.98
Annual Debt Service$3,231,131.74
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