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Michael Krasny Of CDW Corporation Sells Park Tower Condo In Chicago For $2.35M
SOLD
$2,350,000
Illinois
See Similar DealsCondo4,200 SF
Sold 04/15/2025
SOLD
Michael Krasny Of CDW Corporation Sells Park Tower Condo In Chicago For $2.35M
800 North Michigan Avenue
See Similar DealsCondo4,200 SF
Sold 04/15/2025
Summary
ILLINOIS
Asset Type:Condo
Price Per Square Foot:$559
Total Square Footage:4,200 SF
Transaction Type:Sale
A 4,200 square foot condo located at 800 North Michigan Avenue in Chicago was sold for $2,350,000. The property features luxury finishes, two terraces, and lake views. The monthly HOA fee for the unit is $3,796, and the tax bill in 2023 was $62,751.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $2,350,000
- Sale Date: 04/15/2025
- Seller: Michael Krasny - CDW Corporation
- Broker: Linda Levin - Jameson Sotheby's International Realty
- Price per Square Foot: $560
Michael Krasny, founder of CDW Corporation, sold his condo, which was purchased for $4,350,000 in 2017, marking a substantial difference from his original asking price of over $1 million. Linda Levin represented the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39
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