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1317 West School Street

John Corry Of Exit Strategy Realty Represents Buyer In $1.605M Sale Of Chicago Multifamily Property
SOLDMultiFamily

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:

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

Joseph Kotoch

Compass

Broker

$7.7M

vol

6 deals

Broker

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