Gabe Horstick And Alec Greenberg Of Base 3 Development Acquire Multifamily Property In Chicago For $575K
1317 North Ashland Avenue
$575,000
$70/SF
Building Size
8,220 SF
Asset Type
MultiFamily
Closing
Feb 20, 2025
AI
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
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
27.59%
Cash-on-Cash
-7.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93