Drexel Properties Acquires Mixed-Use Property In Chicago For $9.5M
SOLD
$9,500,000
Illinois
See Similar DealsMixed-use23,796 SF
Sold 02/05/2021
SOLD
Drexel Properties Acquires Mixed-Use Property In Chicago For $9.5M
4621-25 North Lincoln Avenue, Chicago, IL, USA
See Similar DealsMixed-use23,796 SF
Sold 02/05/2021
Summary
ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$399
Total Square Footage:23,796 SF
Transaction Type:Sale
A mixed-use property located at 4621-25 N. Lincoln Avenue & 2243-51 W. Eastwood Avenue in Chicago has been sold for a total price of $9,500,000. The property consists of 45 units, with an average price per unit of $211,111.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $9,500,000
- Address: 4621-25 N. Lincoln Avenue & 2243-51 W. Eastwood Avenue, Chicago
- Units: 45
- Price per Unit: $211,111
Drexel Properties, represented by Jeff Weinberg, acquired the property from Pioneer Acquisitions LLC. The transaction was brokered by Joe Smazal from Interra Realty.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$506,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16
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