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Gold Coast, Chicago, Illino...

Jim Belushi Acquires Co-Op In Gold Coast, Chicago For $1.93M With Reps Emily Sachs Wong & Jeff Lowe
SOLDCo-Op

Jim Belushi Acquires Co-Op In Gold Coast, Chicago For $1.93M With Reps Emily Sachs Wong & Jeff Lowe

Gold Coast, Chicago, Illinois, United States

$1,930,000

Building Size

Asset Type

Co-Op

Closing

Feb 3, 2022

AI

The recently closed property transaction in Chicago's Gold Coast neighborhood involved the sale of a Co-Op unit. The sale took place on March 2, 2022, and the property was purchased for $1,930,000.

Summary of transaction details

  • Property Type: Co-Op
  • Transaction Amount: $1,930,000

Leading the transaction was Emily Sachs Wong of Emily Sachs Wong Properties, who represented the buyer, Jim Belushi. On the other side, Jeff Lowe of Compass served as the seller's representative.

Jim Belushi, a well-known actor and comedian, made the purchase through the guidance of Emily Sachs Wong. The transaction demonstrates the active real estate market in the sought-after Gold Coast area.

Players

Jeffrey Lowe

Compass

Broker

$95.8M

vol

30 deals

Broker

Jim Belushi

Buyer

$31.9M

vol

2 deals

Buyer

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

8.22%

Cash-on-Cash

-2.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93