Drexel Properties Acquires Mixed-Use Property In Chicago For $9.5M
4621-25 North Lincoln Avenue, Chicago, IL, USA
$9,500,000
$399/SF
Building Size
23,796 SF
Asset Type
Mixed-use
Closing
Feb 4, 2021
AI
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.
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
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93