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Gabe Horstick And Alec Greenberg Of Base 3 Development Acquire Multifamily Property In Chicago For $575K

Property Image
SOLD
$575,000

Illinois

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MultiFamily8,220 SF
Sold 02/20/2025
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Property Image
SOLD

Gabe Horstick And Alec Greenberg Of Base 3 Development Acquire Multifamily Property In Chicago For $575K

1317 North Ashland Avenue

See Similar Deals
MultiFamily8,220 SF
Sold 02/20/2025
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$70
Total Square Footage:8,220 SF
Transaction Type:Sale

The asset involved in this transaction is a multifamily property located at 1317 North Ashland Avenue in the Chicago market. It consists of 8 units and has a total square footage of 8,220. The sale price for this property was $575,000, resulting in a per unit price of $71,875 and a price per square foot of $69.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $575,000
  • Units: 8
  • Square Footage: 8,220
  • Price Per Unit: $71,875
  • Price Per Square Foot: $69
  • Buyer: Gabe Horstick & Alec Greenberg - Base 3 Development
  • Buyer's Representative: Matthew Fritzshall - TRITON Realty Group

This deal highlights the involvement of the buyers Gabe Horstick and Alec Greenberg, who represent Base 3 Development in this transaction. The buyer's representative, Matthew Fritzshall from TRITON Realty Group, played a crucial role in facilitating the deal.

Players

Matthew "Matt" Fritzshall
16 deals$84.6M volume
BROKER

TRITON Realty Group
BROKERAGE

Gabriel Horstick
Base 3 Development
7 deals$19M volume
BUYER

Details

SOLD
IMAGE: Gabe Horstick, Alec Greenberg & Matthew Fritzshall DATE: 02/20/2025 ADDRESS: 1317 North Ashland Avenue MARKET: Chicago ASSET TYPE: Multifamily BUYER: Gabe Horstick (@The_Gabester_H) & Alec Greenberg (@AlecBGreenberg) - Base 3 Development (@Base3Development) BUYER'S REP: Matthew Fritzshall (@MFritzshall) - TRITON Realty Group (@Triton_Realty_Group) SALE PRICE: $575,000 UNITS: 8 ~ PPU: $71,875 SF: 8,220 ~ PPSF: $69

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

$30,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$2,042.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,725.79
Annual Debt Service$32,709.52