BMCP North Ave. Property, LLC Acquires Mixed-Use Property In Wicker Park, Chicago For $1.275M
2559 West North Avenue, Chicago, IL 60647, USA
$1,275,000
$194/SF
Building Size
6,555 SF
Asset Type
Mixed-use
Closing
Sep 1, 2021
AI
The mixed-use property located at 2559 W North Ave in Wicker Park, Chicago has been sold in a transaction that took place on September 1, 2021. The sale was facilitated by brokers John Preston and John Przybyla from Horvath & Tremblay.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,275,000
- Address: 2559 W North Ave, Wicker Park, Chicago
- Market: Wicker Park, Chicago
- Buyer: BMCP North Ave. Property, LLC
- Seller: Lupo II LLC
- Brokers: John Preston & John Przybyla - Horvath & Tremblay
- Size: 6,555 square feet
- Price per square foot: $195
- Number of units: 6
- Price per unit: $212,500
The buyer, BMCP North Ave. Property, LLC, acquired the property from the seller, Lupo II LLC. The transaction was completed for a sale price of $1,275,000, at a price per square foot of $195. The property spans over 6,555 square feet and consists of 6 units, with an average price of $212,500 per unit.
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
12.44%
Cash-on-Cash
-3.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93