Studio Oakley And Third Coast Real Estate Acquire Mixed-use Asset In Chicago For $6.7M
1422 N. Milwaukee
$6,700,000
$406/SF
Building Size
16,500 SF
Asset Type
Mixed-use
Closing
Jun 11, 2025
AI
The property asset involved in this transaction is a mixed-use building located at 1422 N. Milwaukee in the Chicago market. The sale was completed for a price of $6,700,000.00 and encompasses a total area of 16,500 square feet.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,700,000.00
- Address: 1422 N. Milwaukee
- Market: Chicago
- Square Footage: 16,500.0
- Buyer: Studio Oakley and Third Coast Real Estate
- Broker: Steven Rapoport - Chicago Real Estate Resources
- Date of Sale: 06/11/2025
The deal involves Studio Oakley and Third Coast Real Estate as the buyers, with Steven Rapoport from Chicago Real Estate Resources representing the transaction. This collaboration highlights the active participation of professionals in the field of real estate for this mixed-use asset acquisition.
Players
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
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93