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2231 East 67th Street, Chic...

Zidan Management Group Acquires Multifamily Building In Chicago For $22.6M
FINANCEDMultiFamily

Zidan Management Group Acquires Multifamily Building In Chicago For $22.6M

2231 East 67th Street, Chicago, IL 60649, USA

$22,575,000

$12,541/SF

Building Size

1,800 SF

Asset Type

MultiFamily

Closing

Nov 27, 2021

AI

The multifamily property located at 2231 E 67th St in Chicago has been involved in a closed transaction. This property consists of 106 units and is owned by Zidan Management Group. The deal was facilitated by brokers Jason Brown and Austin Katai from Berkadia. The loan for this transaction was provided by Freddie Mac in the amount of $22,575,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $22,575,000
  • Address: 2231 E 67th St
  • Market: Chicago
  • Total Units: 106
  • Lender: Freddie Mac
  • Landlord: Zidan Management Group
  • Brokers: Jason Brown & Austin Katai - Berkadia

The involvement of Jason Brown and Austin Katai from Berkadia as brokers highlights their role in representing the buyer and seller in this transaction. This closed deal showcases the successful collaboration between the different parties involved in the purchase of this multifamily property in Chicago.

Players

Jason Brown

Berkadia

Broker

$153.8M

vol

3 deals

Broker
Freddie Mac
Freddie MacLender

Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.70%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93