John Corry Of Exit Strategy Realty Represents Buyer In $1.605M Sale Of Chicago Multifamily Property
1317 West School Street
$1,605,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 24, 2024
AI
The 3-flat investment property at 1317 West School Street in Chicago sold for $1.605 million, or $535,000 per unit. Recently completed in early 2024, the building features a duplex-up owner's unit with high-end finishes and is located near the Southport Corridor and Burley school district. This asset type is multifamily, making it attractive for both investors and owner-occupants.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,605,000
- Units: 3
- Price Per Unit: $535,000
- Buyer’s Representative: John Corry - Exit Strategy Realty
- Seller’s Representative: Joseph Kotoch - Compass
John Corry of Exit Strategy Realty represented the buyer in this transaction, while Joseph Kotoch of Compass represented the seller. Their involvement facilitated the successful closing of this multifamily property transaction in the Chicago market.
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
9.88%
Cash-on-Cash
-2.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93