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199 East Lake Shore Drive

John Buck Sells Gold Coast Co-Op At 199 East Lake Shore Dr. For $4.9M
SOLDCo-Op

John Buck Sells Gold Coast Co-Op At 199 East Lake Shore Dr. For $4.9M

199 East Lake Shore Drive

$4,900,000

$510/SF

Building Size

9,600 SF

Asset Type

Co-Op

Closing

Mar 18, 2024

AI

The property at 199 East Lakeshore Drive in Chicago was sold for $4.9 million. This Co-Op asset spans 9,600 square feet and features scenic views, bay windows, ornamental plaster ceilings, and terraces facing north and south.

Summary of transaction details:

John Buck, linked to The John Buck Company, sold his residence at a significant price drop from the initial $11.5 million asking price. The property, originally designed by Benjamin Marshall in 1913, has a history and charm that adds to its appeal in the downtown Chicago residential market.

Players

Michael Rosenblum

Berkshire Hathaway HomeServices

Broker

$10.4M

vol

4 deals

Broker

Chicago Co-Op Market Snapshot

Boundary boundary · Co-Op · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.24%

Cash-on-Cash

-0.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93