Kyle Stengle Of Marcus & Millichap Sells Mixed-Use Asset In Chicago For $6.2M
1364 W Estes Ave, Chicago, IL, 60626
$6,200,000
Building Size
—
Asset Type
Mixed-use
Closing
Aug 13, 2019
About this deal
AI
The property at 1364 W Estes Ave, Chicago, IL, 60626 sold for $6,200,000.00. It consists of 40 one-bedroom/one-bathroom units, three two-bedroom/one-bathroom units, and six commercial spaces. Located near Loyola University, the building is a short walk to the beach.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,200,000.00
- Address: 1364 W Estes Ave, Chicago, IL, 60626
- Market: Chicago
- Seller's Representative: Kyle Stengle (Marcus & Millichap)
- Buyer: Unknown
Austin Weisenbeck and Sean R. Sharko from Marcus & Millichap’s Chicago Oak Brook office marketed 1909 W. Division Street for the seller. C. Parker Bell and Kyle A. Stengle, from Marcus & Millichap’s Chicago Downtown office, represented the seller and also facilitated finding the buyer for 1364 W Estes Ave. Bell mentioned that the property garnered substantial interest and multiple competitive offers due to its size and prime location.
Chicago Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93