Updated Dec 4, 2024
Interra Realty Brokers $1.575M Sale Of 12-Unit Multifamily Building In Des Plaines, IL
1348 Brown Street
$1,575,000
Units
12
Asset Type
MultiFamily
Closing
Nov 8, 2023
About this deal
AI
A 12-unit multifamily building in Des Plaines, Illinois has been sold for $1.575 million. The property, located at 1348 Brown Street, is part of the residential market in Des Plaines. This multifamily asset was originally constructed as condos in 1963, before being converted to rentals due to increased demand.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,575,000
- Address: 1348 Brown Street
- Market: Des Plaines
- Units: 12
- Price per Unit: $131,250
Interra Realty, a Chicago-based firm, facilitated the sale of this multifamily building. Patrick Kennelly and Paul Waterloo of Interra Realty represented both the buyer and seller in this transaction.
Players
Des Plaines 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
10.07%
Cash-on-Cash
-2.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93