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Bill Silverstein Of Beal Properties Acquires Mixed-Use Property In Lincoln Park Chicago For $11.25M

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SOLD
$11,250,000
Craig Martin
Brad Feldman
Joe Smazal

Illinois

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Bill Silverstein Of Beal Properties Acquires Mixed-Use Property In Lincoln Park Chicago For $11.25M

2200 North Clark Street

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Mixed-use
Sold
Craig Martin
Brad Feldman
Joe Smazal
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Summary

ILLINOIS
Asset Type:Mixed-use
Transaction Type:Sale

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.

Players

Joe Smazal
Interra Realty
Joe Smazal
73 deals$596.9M volume
BROKER
Brad Feldman
Interra Realty
Brad Feldman
36 deals$282.9M volume
BROKER
Craig Martin
Interra Realty
Craig Martin
24 deals$222.9M volume
BROKER

Details

SOLD
IMAGE: Brad Feldman, Joe Smazal & Craig Martin DATE: 11/19/2024 ADDRESS: 2200 North Clark Street MARKET: Chicago ASSET TYPE: Mixed-use BUYER: Bill Silverstein - Beal Properties BROKERS: Brad Feldman (@BsFeldman), Craig Martin & Joe Smazal (@JSmazal) - Interra Realty SALE PRICE: $11,250,000 UNITS: 35 ~ PPU: $321,429 NOTE: Interra Realty brokered the $11.25 million sale of a fully occupied, 35-unit mixed-use property at 2200 N. Clark Street in Chicago's Lincoln Park, representing both the seller, a local real estate investment firm, and the buyer, Beal Properties. The property includes 11 studio units, 5 convertible units, 8 one-bedroom units, and 10,000 square feet of ground-floor retail space, and is surrounded by Lincoln Park's amenities and public transit options.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$600,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,968.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,330.74
Annual Debt Service$639,968.87