Apostal Holdings LLC Acquires Mixed-Use Property In Lincoln Park, Chicago For $1.55M
2657-59 North Clybourn Avenue, Chicago, IL, USA
$1,555,000
$146/SF
Building Size
10,600 SF
Asset Type
Mixed-use
Closing
Jul 7, 2021
AI
An impressive mixed-use property transaction took place in Lincoln Park, Chicago. The property, located at 2657-59 N Clybourn Avenue, offers a prime location in the market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,555,000
- Square Footage: 10,600
- Price per Square Foot: $147
- Market: Lincoln Park, Chicago
The buyer, Apostal Holdings LLC, acquired the property from John Gil Kong and Lucia Soon Kong. Valerie Cook, representing Keller Williams Commercial, acted as the buyer's representative in the deal. On the other side, James Hodur and Ben Miotti, from Coldwell Banker Commercial, represented the sellers.
The property was listed at an asking price of $1,999,000, demonstrating the negotiation skills of the buyer to secure the purchase at a discounted price of $1,555,000.
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
10.20%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93