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1508 North State Parkway

Tamara Kasey And Eli Masud Of Compass Represent Buyer In $11.35 Million Chicago Condo Sale
SOLDCondo

Tamara Kasey And Eli Masud Of Compass Represent Buyer In $11.35 Million Chicago Condo Sale

1508 North State Parkway

$11,350,000

$945/SF

Building Size

12,000 SF

Asset Type

Condo

Closing

Aug 27, 2024

AI

The property involved in this transaction is a condo building located at 1508 North State Parkway in Chicago. The sale price was $11,350,000, with a total square footage of 12,000, resulting in a price per square foot of $945.

Summary of transaction details:

  • Property Type: Condo Building
  • Transaction Amount: $11,350,000
  • Square Footage: 12,000
  • Price per Square Foot: $945
  • Address: 1508 North State Parkway
  • Market: Chicago
  • Buyer's Representatives: Tamara Kasey, Eli Masud - Compass, Lisa Madonia - Christie's International Real Estate
  • Seller's Representative: Cory Robertson - Corwin Partners
  • Seller’s Agency: Jameson Sotheby's International Realty

Corwin Partners executed the development strategy for the property and successfully completed its sell-out before construction was finished. ZSD Development undertook the project to transform the Winston mansion into four full-floor condo residences, featuring private outdoor spaces and individual garage parking.

Players

Lisa Madonia

Broker

$13.1M

vol

2 deals

Broker

Chicago Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.40%

Cash-on-Cash

-0.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93