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Compass Brokers Seal $1.05M Deal For Multifamily Property In Chicago

Property Image
SOLD
$1,050,000
Michael Decker
Susanna Cherubin-Delisi
Megan Honda

Illinois

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MultiFamily
Sold 05/10/2024
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Property Image
SOLD

Compass Brokers Seal $1.05M Deal For Multifamily Property In Chicago

1408 West Belle Plaine Avenue

See Similar Deals
MultiFamily
Sold 05/10/2024
Michael Decker
Susanna Cherubin-Delisi
Megan Honda
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A classic Greystone building at 1408 West Belle Plaine Avenue in Chicago was sold for $1,050,000. The property features three spacious apartments with vintage details, separate living rooms and dining rooms, updated kitchens, and enclosed rear porches. It offers potential for owner occupancy, rental income, or conversion to a single-family home, with opportunities to expand or modify the units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,050,000
  • Units: 3
  • Price Per Unit: $350,000
  • Address: 1408 West Belle Plaine Avenue
  • Market: Chicago

Megan Honda, Susanna Cherubin-Delisi, and Michael Decker of Compass represented the transaction.

Players

Michael Decker
Compass
Michael Decker
3 deals$3.4M volume
BROKER
Susanna Cherubin-Delisi
Compass
Susanna Cherubin-Delisi
2 deals$2.6M volume(773) 457-8011
BROKER
Megan Honda
Compass
Megan Honda
1 deal$1.1M volume(773) 386-1129
BROKER

Details

SOLD
IMAGE: Michael Decker, Susanna Cherubin-Delisi & Megan Honda DATE: 05/10/2024 ADDRESS: 1408 West Belle Plaine Avenue MARKET: Chicago ASSET TYPE: Multifamily BROKERS: Megan Honda (@Megan_Honda), Michael Decker & Susanna Cherubin-Delisi (@SusannaCDelisi) - Compass (@Compass) SALE PRICE: $1,050,000 UNITS: 3 ~ PPU: $350,000 NOTE: A classic Greystone building at 1408 West Belle Plaine Avenue in Chicago was sold for $1,050,000. The meticulously maintained property features three spacious apartments with vintage details, separate living rooms and dining rooms, updated kitchens, and enclosed rear porches. The building offers potential for owner occupancy, rental income, or conversion to a single-family home, with opportunities to expand or modify the units. Megan Honda, Susanna Cherubin-Delisi, and Michael Decker of Compass represented the transaction.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$55,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,730.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,977.54
Annual Debt Service$59,730.43