Essex Realty Group Sells 22-Unit Mixed-Use Property In Auburn Gresham For $1M
8000 South Ashland Avenue, Chicago, Illinois 60619, United States
$1,000,000
$71,428/SF
Building Size
14 SF
Asset Type
Mixed-use
Closing
Oct 24, 2022
About this deal
AI
Essex Realty Group, Inc. has announced the sale of a mixed-use property located at 8000 S. Ashland Avenue, Auburn Gresham, Chicago, IL. The property consists of 22 units and is situated in the historic neighborhood, just 20 minutes south of Downtown Chicago.
Summary of transaction details:
- Property Type: Mixed-use
- Sale Price: $1,000,000
- Square Footage: 14,800 SF
- Price Per Square Foot: $68
- Address: 8000 S Ashland Ave, Auburn Gresham, Chicago, IL
Prior to the sale, significant remodeling, maintenance, and updates were done to over 80% of the units, while still preserving the property's historic architecture and grandeur. The unit mix of 8000 S. Ashland Avenue includes twelve (12) studios and four (4) 1 Bed / 1 Bath apartments.
Noted broker Brian Mond from Essex Realty Group facilitated the transaction.
On the Map
$1,000,000
$71,428/SF
Mixed-use
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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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93