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Art House Eleven 21 In Wilmette Sold For $9.2M By Buyer HP Ventures Group & Brokers Craig Martin And Lucas Fryman
SOLD
$9,200,000
Illinois
See Similar DealsMixed-use
Sold 10/05/2023
SOLD
Art House Eleven 21 In Wilmette Sold For $9.2M By Buyer HP Ventures Group & Brokers Craig Martin And Lucas Fryman
1121 Greenleaf Avenue
See Similar DealsMixed-use
Sold 10/05/2023
Summary
ILLINOIS
Asset Type:Mixed-use
Transaction Type:Sale
A mixed-use apartment building located at 1121 Greenleaf Avenue in downtown Wilmette has been sold for $9.2 million. The property, known as Art House Eleven 21, was completed in 2018 and consists of 16 units. It features two retail spaces, six two-bedroom apartments, and eight three-bedroom apartments.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $9,200,000
- Market: Wilmette
- Units: 16
- Price Per Unit: $575,000
The buyer of the property is HP Ventures Group, represented by William Brenneman. On the other hand, the seller is 4 Corners, Gabe Horstick & Josh Krueger. The deal was facilitated by brokers Craig Martin and Lucas Fryman of Interra Realty.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$490,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,685.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,612.69
Annual Debt Service$523,352.32
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