Updated Oct 29, 2024
1319 West Sherwin Condominium Sells In Chicago Multifamily Sale For $3.5M
1319 West Sherwin Avenue, Chicago, IL, USA & 1319 West Sherwin Avenue, Chicago, IL, USA
$3,500,000
$5/SF
Building Size
650,900 SF
Asset Type
MultiFamily
Closing
Nov 22, 2020
About this deal
AI
The 1319-1327 W. Sherwin Avenue multifamily property in Chicago was recently sold in a closed transaction. The sale took place on November 23, 2020, with a sale price of $3,500,000. This Section 15 deconversion sale involved the seller, 1319 West Sherwin Condominium. The property consists of 28 units, with an average price per unit (PPU) of $125,000. The property is located in the Chicago market, offering great investment potential.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Address: 1319-1327 W. Sherwin Avenue, Chicago
- Seller: 1319 West Sherwin Condominium - Section 15 deconversion sale
- BROKERS: Andy Friedman, Jake Parker, Danny Logarakis, & Rick Ofman - Kiser Group
- Units: 28
- PPU: $125,000
The deal was facilitated by Kiser Group, with brokers Andy Friedman, Jake Parker, Danny Logarakis, and Rick Ofman representing the seller. This team played a crucial role in the successful completion of the transaction.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93