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Angelo Labriola & Paul Cawthon Broker Mixed-Use Building Sale In Chicago For $2.2M

Property Image
SOLD
$2,200,000
Paul Cawthon
Angelo Labriola

Illinois

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Mixed-use
Sold 03/25/2024
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Property Image
SOLD

Angelo Labriola & Paul Cawthon Broker Mixed-Use Building Sale In Chicago For $2.2M

3110 West Belmont Avenue

See Similar Deals
Mixed-use
Sold 03/25/2024
Paul Cawthon
Angelo Labriola
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Mixed-use
Transaction Type:Sale

The eight-unit mixed-use building located at 3110 West Belmont Avenue in Chicago was sold for $2.2 million. The property, situated in Avondale, features spacious units with rare indoor parking and attracted a buyer from New York, interested in value-add opportunities due to below-market rents.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,200,000
  • Units: 8
  • Price per Unit: $275,000
  • Address: 3110 West Belmont Avenue, Chicago
  • Market: Chicago
  • Brokers: Angelo Labriola & Paul Cawthon - SVN | Chicago Commercial

SVN | Chicago Commercial, represented by Angelo Labriola and Paul Cawthon, brokered the deal for the sale of the mixed-use building. The seller was effectively represented in the transaction, which involved a buyer from New York seeking to capitalize on the property's potential for improvement.

Players

Paul Cawthon
SVN
Paul Cawthon
12 deals$28.5M volume
BROKER
Angelo Labriola
SVN
Angelo Labriola
11 deals$26.6M volume(312) 676-1870
BROKER

Details

SOLD
IMAGE: Paul Cawthon & Angelo Labriola DATE: 03/25/2024 ADDRESS: 3110 West Belmont Avenue MARKET: Chicago ASSET TYPE: Mixed-use BROKERS: Angelo Labriola & Paul Cawthon (@CLG_Chicago) - SVN | Chicago Commercial (@SVN_Chicago) SALE PRICE: $2,200,000 UNITS: 8 ~ PPU: $275,000 NOTE: SVN | Chicago Commercial, through Paul Cawthon and Angelo Labriola, brokered the sale of an eight-unit mixed-use building at 3110 W Belmont Avenue in Chicago for $2.2 million, representing the seller. The property, located in Avondale, attracted a buyer from New York looking for value-add opportunities due to below-market rents and spacious units with rare indoor parking.

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

$117,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47