Interra Realty Brokers Sale Of 16-Unit Mixed-Use Building In Chicago's Logan Square For $6.1M
2543 N California Ave Chicago, IL 60647, USA
$6,100,000
Units
16
Asset Type
Mixed-use
Closing
Jun 23, 2023
About this deal
AI
A 16-unit mixed-use building in Chicago's Logan Square was sold for $6.1 million, achieving a price of $381,562 per unit. The property, located at 2543 N. California Avenue, includes commercial spaces, one of which is occupied by Starbucks as a long-term tenant. The sale attracted strong interest, with multiple offers.
Summary of transaction details:
- Property Type: Mixed-use
- Sale Price: $6,100,000
- Units: 16
- Price Per Unit: $381,250
- Address: 2543 North California Avenue
- Market: Chicago
Interra Realty, represented by Brad Feldman, brokered the sale of the mixed-use building. The deal was facilitated by Barnett Capital Ltd, the seller. With its prime location and strong tenant, the property garnered significant interest in the market.
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
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93