Kiferbaum Development Group Acquires Mixed-Use Property In Lincoln Park For $4.56M
2464 North Lincoln Avenue
$4,560,000
$233/SF
Building Size
19,500 SF
Asset Type
Mixed-use
Closing
Aug 15, 2022
AI
The $4,560,000 off-market sale of (2) adjacent properties in Chicago's Lincoln Park has been brokered by Steven Rapoport and Justin Moore with CRER (Chicago Real Estate Resources Inc.). The buildings, situated on a 12,000-sf parcel of land, offer 100' of frontage on Lincoln Ave. They feature (3) retail units and (8) apartments above, totaling 19,500 square feet. The properties were purchased by a partnership led by Kiferbaum Development Group.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,560,000
- Address: 2464 N Lincoln Ave
- Market: Lincoln Park
- Square Footage: 19,500
- Price Per Square Foot: $234
Steven Rapoport and Justin Moore, representing CRER, played a key role in facilitating the sale. They can be contacted for further information:
Steven Rapoport
Email: [email protected]
Phone: 847-863-2707
Justin Moore
Email: [email protected]
Phone: (773) 531-7093
Players
Chicago Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.48%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93