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Alec Greenberg & Gabe Horstick Acquire Multifamily In Chicago For $2.42M

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SOLD
$2,420,000

Illinois

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MultiFamily15,000 SF
Sold 05/20/2024
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SOLD

Alec Greenberg & Gabe Horstick Acquire Multifamily In Chicago For $2.42M

1035 West Byron Street

See Similar Deals
MultiFamily15,000 SF
Sold 05/20/2024
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$161
Total Square Footage:15,000 SF
Transaction Type:Sale

The multifamily property located at 1035 West Byron Street in Chicago was sold for $2,420,000. The property spans 15,000 square feet and consists of 15 units, amounting to a price per unit of $161,333 and a price per square foot of $161.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,420,000
  • Units: 15
  • Price Per Unit: $161,333
  • Square Footage: 15,000
  • Address: 1035 West Byron Street
  • Market: Chicago
  • Buyer: Alec Greenberg & Gabe Horstick - Base 3
  • Broker: Bill Cassin

Alec Greenberg and Gabe Horstick from Base 3 were the buyers of the property, with the transaction facilitated by broker Bill Cassin. This transaction signifies a significant investment in the Chicago real estate market, showcasing the active involvement of these key individuals and entities in property acquisitions.

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7 deals$41.9M volume
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Details

SOLD
IMAGE: Gabe Horstick, Bill Cassin & Alec Greenberg DATE: 05/20/2024 ADDRESS: 1035 West Byron Street MARKET: Chicago ASSET TYPE: Multifamily BUYER: Alec Greenberg (@AlecbGreenberg) & Gabe Horstick - Base 3 BROKER: Bill Cassin SALE PRICE: $2,420,000 UNITS: 15 ~ PPU: $161,333 SF: 15,000 ~ PPSF: $161

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$129,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,597.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,472.03
Annual Debt Service$137,664.42