A $1.49 million sale closed for three residential condo units at 1408 West Belmont Avenue in Chicago. The asset, classified as multifamily, includes a total of 3 units, with a price per unit of $496,667. The property is fully leased and generates an annual rental income of $112,000. It presents redevelopment potential due to available parking space and is situated in the desirable Southport Corridor.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,490,000
• Units: 3
• Price Per Unit: $496,667
• Annual Rental Income: $112,000
• Address: 1408 West Belmont Avenue
• Market: Chicago
• Buyer's Representative: Christopher Stone - EXP Realty
• Seller's Representative: Matthew Lind - Compass

The transaction involved Christopher Stone of EXP Realty representing the buyer and Matthew Lind of Compass representing the seller, facilitating the deal between the two parties while ensuring a smooth transition of ownership.