Robert Jacobson Acquires Multifamily Property In Chicago From Noah Birk
11027 South Doctor Martin Luther King Jr Drive
$2,200,000
$88/SF
Building Size
25,000 SF
Asset Type
MultiFamily
Closing
Oct 27, 2023
AI
The multifamily property located at 11027 South Doctor Martin Luther King Jr Drive in Chicago has been sold in a transaction. The property spans across 25,000 square feet and consists of 27 units. The sale price for this property was $2,200,000, resulting in a price per unit of $81,481. The price per square foot is calculated to be $88.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,200,000
- Address: 11027 South Doctor Martin Luther King Jr Drive, Chicago
- Market: Chicago
The buyer in this transaction is Robert Jacobson, while Noah Birk acted as the seller. Aaron Sklar from Kiser Group represented both parties as the broker.
Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93