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Sheehan Real Estate Sells Lakeview Multifamily Property For $1.27M

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SOLD
$1,270,000

Illinois

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MultiFamily
Sold 06/14/2024
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Property Image
SOLD

Sheehan Real Estate Sells Lakeview Multifamily Property For $1.27M

1210 West Wellington Avenue

See Similar Deals
MultiFamily
Sold 06/14/2024
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

1210 West Wellington Avenue in Chicago is a multifamily property in the Lakeview neighborhood, recently sold for $1,270,000. The property consists of a legal 2-unit layout with an additional in-law unit. Featuring original woodwork, hardwood floors, and ample storage, this property offers investment potential and is suitable for multi-family living, with opportunities for value enhancement.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,270,000
  • Units: 2
  • Price per Unit: $635,000
  • Address: 1210 West Wellington Avenue, Chicago
  • Market: Chicago

Andrew Thurston and James Sheehan of Sheehan Real Estate were the brokers responsible for handling the transaction of the multifamily property at 1210 West Wellington Avenue. With their expertise, the sale of this property was successfully facilitated, showcasing their commitment to delivering excellent service in real estate transactions.

Players

James Sheehan
4 deals$9.7M volume
BROKER

Andrew Thurston
Sheehan Real Estate
2 deals$7.3M volume(773) 354-9613
BROKER

Details

SOLD
IMAGE: Andrew Thurston & James Sheehan DATE: 06/14/2024 ADDRESS: 1210 West Wellington Avenue MARKET: Chicago ASSET TYPE: Multifamily BROKERS: Andrew Thurston (@Andrew.Thurston.realestate) & James Sheehan - Sheehan Real Estate (@Sheehan.RealEstate) SALE PRICE: $1,270,000 UNITS: 2 ~ PPU: $635,000 NOTE: 1210 West Wellington Avenue in Chicago, a multifamily property located in the Lakeview neighborhood, was sold for $1,270,000. The transaction was handled by James Sheehan and Andrew Thurston of Sheehan Real Estate. The property features a legal 2-unit layout with an additional in-law unit, boasting original woodwork, hardwood floors, and ample storage, making it suitable for investment or multi-family living with potential for value enhancement.

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

$67,733.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,512.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,020.45
Annual Debt Service$72,245.38