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Estia Properties Acquires Mixed-Use Building In Chicago's Hyde Park For $9M With Interra Realty
SOLD
$9,000,000
Illinois
See Similar DealsMixed-use
Sold 10/16/2024
SOLD
Estia Properties Acquires Mixed-Use Building In Chicago's Hyde Park For $9M With Interra Realty
5300 South Blackstone Avenue
See Similar DealsMixed-use
Sold 10/16/2024
Summary
ILLINOIS
Asset Type:Mixed-use
Transaction Type:Sale
A mixed-use building located at 5300 South Blackstone Avenue in Chicago's Hyde Park has been sold for $9 million. The asset features 24 apartments alongside two commercial spaces, highlighting its multifaceted use within a vibrant neighborhood.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $9,000,000
- Units: 24
- Price Per Unit: $375,000
- Buyer: Estia Properties
- Broker Representatives: Joe Smazal & Mark Dykstra - Interra Realty
- Date of Transaction: 10/16/2024
- Market: Chicago
The deal was facilitated by Senior Managing Partner Joe Smazal and Director Mark Dykstra, who represented Estia Properties in the transaction. The seller's identity remains confidential, reflecting standard practices in commercial real estate transactions.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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