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21 North May Street

Philip Skowron Of Christie's Int. Real Estate Represents Buyer In $7.56M Chicago Condo Sale
SOLDCondo

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

Timothy Sheahan

Compass

Broker

$38.8M

vol

10 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

2.10%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93