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
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