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Paul De Legge & Geraldine Ward Facilitate $2.52M Sale Of Chicago Multifamily Property

Property Image
SOLD
$2,525,000
PL
Geraldine Ward

Illinois

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MultiFamily
Sold 05/16/2024
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Property Image
SOLD

Paul De Legge & Geraldine Ward Facilitate $2.52M Sale Of Chicago Multifamily Property

1242 West Argyle Street

See Similar Deals
MultiFamily
Sold 05/16/2024
PL
Geraldine Ward
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A fully stabilized six-unit multifamily building at 1242 West Argyle Street in Chicago was recently sold for $2.525 million. The property boasts high-end finishes, private outdoor spaces, and leases in place until spring/summer 2025. It includes a mix of two, three, and four-bedroom units, along with five exterior parking spots.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,525,000
  • Units: 6
  • Price Per Unit: $420,833
  • Address: 1242 West Argyle Street
  • Market: Chicago

The buyer's representative in this transaction was Paul De Legge from CL3 Property Management, while the seller's representative was Geraldine Ward from Joyce & Kerrigan Real Estate.

Players

PL
CL3 Property Management
Paul De Legge
2 deals$4.7M volume(708) 866-0865
BROKER
Geraldine Ward
Joyce & Kerrigan Real Estate
Geraldine Ward
1 deal$2.5M volume(773) 474-6682
BROKER

Details

SOLD
IMAGE: Geraldine Ward DATE: 05/16/2024 ADDRESS: 1242 West Argyle Street MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Paul De Legge - CL3 Property Management SELLER'S REP: Geraldine Ward - Joyce & Kerrigan Real Estate SALE PRICE: $2,525,000 UNITS: 6 ~ PPU: $420,833 NOTE: A fully stabilized six-unit multifamily building at 1242 West Argyle Street in Chicago sold for $2.525 million, averaging $420,833 per unit. The newly rehabbed property features high-end finishes, private outdoor spaces, and leases extending to spring/summer 2025, with a mix of two, three, and four-bedroom units, plus five exterior parking spots.

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

$134,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,970.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,969.79
Annual Debt Service$143,637.46