Updated Oct 28, 2024
Standard Communities Acquires Multifamily Property In Oakland For $54M
1061 East 41st Place, Chicago, Illinois 60653, United States
$54,000,000
Units
148
Asset Type
MultiFamily
Closing
Sep 6, 2022
About this deal
AI
Standard Communities has purchased a multifamily property in Oakland for a total of $54,000,000. The property, located at 1061 E. 41st Place, consists of 148 units, resulting in an average price per unit of $364,865.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $54,000,000
- Address: 1061 E. 41st Place
- Market: Oakland
- Units: 148
- PPU: $364,865
The deal was facilitated by Jeffrey Jaeger and Robert Koerner, representing Standard Communities as their broker representatives.
The multifamily sale at 1061 East 41st Place, Chicago, Illinois 60653, United States in Chicago, Illinois sold for $54M in 2022. Reported inventory is 148 units across 148 units. Named participants on the 1061 East 41st Place, Chicago, Illinois 60653, United States sale are Jeff Jaeger. This page is the Chicago, Illinois file for the 1061 East 41st Place, Chicago, Illinois 60653, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Chicago sit in the Market section below. Filter that Chicago multifamily set by closing date to see what else sold near 1061 East 41st Place, Chicago, Illinois 60653, United States around 2022. Published consideration for 1061 East 41st Place, Chicago, Illinois 60653, United States is $54M, dated 2022. Cite this Standard Communities Acquires Multifamily Property In Oakland For $54M sale when underwriting similar multifamily product around Chicago, Illinois.
Chicago MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93