Bill Silverstein Of Beal Properties Acquires Mixed-Use Property In Lincoln Park Chicago For $11.25M
2200 North Clark Street
$11,250,000
Units
35
Asset Type
Mixed-use
Closing
Nov 19, 2024
About this deal
AI
A fully occupied, 35-unit mixed-use property located at 2200 North Clark Street in Chicago's Lincoln Park market has been sold for $11,250,000. The asset features a total of 10,000 square feet dedicated to ground-floor retail space along with a mix of residential units, comprising 11 studio units, 5 convertible units, and 8 one-bedroom units.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $11,250,000
- Units: 35
- Price Per Unit: $321,429
- Address: 2200 North Clark Street
- Market: Chicago
The transaction featured Beal Properties as the buyer, represented by Bill Silverstein. Interra Realty acted as the broker for the sale, with Brad Feldman, Craig Martin, and Joe Smazal representing both the seller, a local real estate investment firm, and the buyer in this deal.
On the Map
$11,250,000
Mixed-use
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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
1.41%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93