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1326 West Melrose Street

Brian Moon Of Keller Williams ONEChicago Represents Buyer In Sale Of Chicago Multifamily For $1.16M
SOLDMultiFamily

Brian Moon Of Keller Williams ONEChicago Represents Buyer In Sale Of Chicago Multifamily For $1.16M

1326 West Melrose Street

$1,160,000

Building Size

Asset Type

MultiFamily

Closing

Sep 3, 2024

AI

The two-unit multifamily property located at 1326 West Melrose Street in Chicago has been sold for $1,160,000. The asset is situated in the Lakeview neighborhood, featuring spacious, light-filled units, formal living and dining areas, large eat-in kitchens, and private decks. Recent updates have been made to appliances and mechanicals in the property.

Summary of transaction details:

The transaction involved Brian Moon representing the buyer and Judith Panozzo representing the seller, ensuring a successful deal for both parties. Their respective agencies played a crucial role in facilitating the transfer of ownership of this multifamily property.

Players

Brian Moon

Keller Williams Realty

Broker

$5.7M

vol

5 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

13.68%

Cash-on-Cash

-3.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93