Updated Dec 4, 2024
Compass Brokers Seal $1.05M Deal For Multifamily Property In Chicago
1408 West Belle Plaine Avenue
$1,050,000
Units
3
Asset Type
MultiFamily
Closing
May 10, 2024
About this deal
AI
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
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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93