Dwelle Properties Acquires Multifamily Property On West Madison Street In Chicago For $32.8M
SOLD
$2,800,000
Illinois
See Similar DealsMultiFamily1,075 SF
Sold 10/23/2020
SOLD
Dwelle Properties Acquires Multifamily Property On West Madison Street In Chicago For $32.8M
1247 W Madison St, Chicago, IL 60607, Estados Unidos
See Similar DealsMultiFamily1,075 SF
Sold 10/23/2020
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$2,604
Total Square Footage:1,075 SF
Transaction Type:Sale
The multifamily property located at 1247-1249 West Madison Street in Chicago has been sold in a closed transaction. The property consists of 72 units and was sold for a total price of $32,800,000, resulting in a price per unit of $455,555.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $32,800,000
- Units: 72
- Price per Unit: $455,555
- Buyer: Drew Breneman & Sam Meyer – Dwelle Properties
Drew Breneman and Sam Meyer from Dwelle Properties represented the buyer in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
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