Palladius Real Estate Acquires Oak Park Multifamily From Air Communities For $71.4M
SOLD
$71,400,000
Illinois
See Similar DealsMultiFamily
Sold 04/11/2022
SOLD
Palladius Real Estate Acquires Oak Park Multifamily From Air Communities For $71.4M
100 Forest Place, Oak Park, IL 60301
See Similar DealsMultiFamily
Sold 04/11/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
Pete Evans & Nitin Chexal closed a multifamily property transaction in Oak Park. The property, located at 100 Forest Place, was sold by Air Communities to Palladius Real Estate. The deal was facilitated by Pete Evans from Berkadia.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $71,400,000
- Date: 04/11/2022
- Address: 100 Forest Place
- Market: Oak Park
- Buyer: Palladius Real Estate - Nitin Chexal
- Seller: Air Communities
- Broker: Pete Evans - Berkadia
- Units: 234
- Price per Unit: $305,128
Pete Evans from Berkadia represented the buyer, Nitin Chexal, in this transaction. The property consists of 234 units at an average price per unit of $305,128.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,808,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$253,669.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$338,472.43
Annual Debt Service$4,061,669.12
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