Teko Menetti Acquires 35-Unit Mixed-Use Building In Chicago's West Ridge For $4.1M
2801 West Lunt Avenue
$4,100,000
Units
35
Asset Type
Mixed-use
Closing
Oct 19, 2023
About this deal
AI
A 35-unit mixed-use multifamily building located at 2801 West Lunt Avenue in Chicago's West Ridge neighborhood was recently sold for $4.1 million. The property was brokered by Interra Realty, with a sale price of approximately $117,142 per unit.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,100,000
- Address: 2801 West Lunt Avenue, Chicago
- Market: Chicago
Teko Menetti acted as the buyer in the transaction, represented by Interra Realty's brokers Patrick Kennelly and Paul Waterloo. On the other hand, the seller, a local private investor, was represented by Interra Realty's Senior Managing Partner Joe Smazal.
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
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93