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Warren Silver Acquires Mount Prospect Multifamily For $5.5M

Property Image
SOLD
$5,500,000
Craig Martin
DH

Illinois

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MultiFamily44,000 SF
Sold 10/15/2021
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Property Image
SOLD

Warren Silver Acquires Mount Prospect Multifamily For $5.5M

1050 North Wheeling Road, Mount Prospect, IL, USA

See Similar Deals
MultiFamily44,000 SF
Sold 10/15/2021
Craig Martin
DH
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$125
Total Square Footage:44,000 SF
Transaction Type:Sale

The multifamily property located at 1050 N Wheeling in Mount Prospect, Illinois was recently sold for $5,500,000. The transaction took place on October 15, 2021, and involved 42 units with an average price per unit of $130,952. The total area of the property is 44,000 square feet, resulting in a price per square foot of $125.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,500,000
  • Units: 42
  • Price Per Unit: $130,952
  • Square Footage: 44,000
  • Price Per Square Foot: $125
  • Address: 1050 N Wheeling, Mount Prospect, Illinois
  • Market: Mount Prospect, Illinois

Warren Silver acquired the property as the buyer, while Dan Howard acted as the seller. The transaction was facilitated by Craig Martin from Interra Realty.

NOTE: No additional information was provided about the property's features or any notable aspects of the deal beyond the transaction details mentioned.

Players

Craig Martin
Interra Realty
Craig Martin
24 deals$222.9M volume
BROKER
DH
29th Street Capital
Dan Howard
2 deals$5.5M volume
SELLER

Details

SOLD
IMAGE: Craig Martin DATE: 10/15/2021 ADDRESS: 1050 N Wheeling MARKET: Mount Prospect, Illinois ASSET TYPE: Multifamily BUYER: Warren Silver SELLER: Dan Howard BROKER: Craig Martin - Interra Realty SALE PRICE: $5,500,000 UNITS: 42 ~ PPU: $130,952 SF: 44,000 ~ PPSF: $125

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
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