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Interra Realty Facilitates $12.7M Sale Of Mixed-Use Property In Chicago

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SOLD
$12,700,000

Illinois

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Mixed-use
Sold 04/29/2024
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Property Image
SOLD

Interra Realty Facilitates $12.7M Sale Of Mixed-Use Property In Chicago

2827 North Clybourn Avenue & 2847 North Clybourn Avenue

See Similar Deals
Mixed-use
Sold 04/29/2024
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Summary

ILLINOIS
Asset Type:Mixed-use
Transaction Type:Sale

The property at 2827-2847 North Clybourn Avenue in Chicago's West Lakeview neighborhood has been sold for $12.7 million. This mixed-use asset consists of 30 apartment units and six commercial spaces. The residential section of the building was nearly fully occupied at the time of the transaction.

Summary of transaction details:

The sale of the property was facilitated by Interra Realty. The buyer, a local investor, assumed the existing mortgage with a 3 percent interest rate. Brad Feldman represented the seller in the transaction, while Patrick Kennelly and Paul Waterloo acted as the buyer's representatives.

Players

Brad Feldman
37 deals$280.5M volume
BROKER

Patrick (Pat) Kennelly
Interra Realty
52 deals$326.9M volume
BROKER

Paul Waterloo
Interra Realty
52 deals$328M volume
BROKER

Details

SOLD
IMAGE: Brad Feldman, Paul Waterloo & Patrick Kennelly DATE: 04/29/2024 ADDRESS: 2827-2847 North Clybourn Avenue MARKET: Chicago ASSET TYPE: Mixed-use BROKERS: Brad Feldman (@BsFeldman), Patrick Kennelly (@PJK8877) & Paul Waterloo (@PWaterloo) - Interra Realty (@InterraRealty) SALE PRICE: $12,700,000 UNITS: 36 ~ PPU: $352,778 NOTE: Interra Realty has facilitated the sale of a property at 2827-2847 N. Clybourn Ave. in Chicago's West Lakeview neighborhood for $12.7 million. The building includes 30 apartment units and six commercial spaces, with the residential portion nearly fully occupied at the time of sale. Brad Feldman represented the seller, a local investor, while Patrick Kennelly and Paul Waterloo represented the buyer, also a local investor, who assumed the existing mortgage with a favorable 3 percent interest rate.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$677,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$45,120.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,204.48
Annual Debt Service$722,453.75