Philip Skowron Of Christie's Int. Real Estate Represents Buyer In $7.56M Chicago Condo Sale
21 North May Street
$7,562,828
$1,458/SF
Building Size
5,187 SF
Asset Type
Condo
Closing
May 17, 2024
AI
The recently sold half-floor penthouse condominium at 21 North May Street in Chicago's Embry building was transacted for $7,562,828, boasting four bedrooms, 4-1/2 bathrooms, and 2,300 square feet of exterior space. Designed by Kara Mann Design, this unit set a new record in West Loop residential sales, surpassing the previous record.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $7,562,828
- Address: 21 North May Street, Chicago
- Square Footage: 5,187
- Price Per Square Foot: $1,458
- Buyer's Rep: Philip Skowron - Properties Christie's International Real Estate
- Seller's Rep: Mark Icuss & Timothy Sheahan - Compass
The buyers of this impressive property remain undisclosed, leaving the other half-floor penthouse in the building set to hit the market soon, offering a unique opportunity for interested parties in the thriving West Loop real estate market.
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
2.10%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93