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1221 West Sherwin Avenue, C...

Preservation Of Affordable Housing Acquires Multifamily Property In Chicago For $8.1M
SOLDMultiFamily

Preservation Of Affordable Housing Acquires Multifamily Property In Chicago For $8.1M

1221 West Sherwin Avenue, Chicago, IL, USA

$8,100,000

$264/SF

Building Size

30,660 SF

Asset Type

MultiFamily

Closing

Jan 18, 2021

AI

A multifamily property located at 1221 W. Sherwin Avenue in Chicago has been sold in a transaction facilitated by Kyle Shoemaker and Lee Kiser. The property, consisting of 57 units, was sold for a total price of $8,100,000, resulting in a per unit price of $142,105.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,100,000
  • Units: 57
  • Price Per Unit: $142,105

Kyle Shoemaker, representing Affordable Housing Investment Brokerage, and Lee Kiser from @kisergroup acted as brokers in the deal. The buyer, Preservation of Affordable Housing (POAH), acquired the property from a non-for-profit seller.

Players

Lee Kiser

Kiser Group

Broker

$186M

vol

13 deals

Broker
PH
Preservation of Affordable HousingBuyer

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

1.96%

Cash-on-Cash

-0.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93