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1442 North North Park Avenue Two-Unit Building In Old Town Chicago Sells For $1.36M

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SOLD
$1,362,444

Illinois

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MultiFamily
Sold 06/06/2024
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Property Image
SOLD

1442 North North Park Avenue Two-Unit Building In Old Town Chicago Sells For $1.36M

1442 North North Park Avenue

See Similar Deals
MultiFamily
Sold 06/06/2024
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A 7,000-square-foot, two-unit building at 1442 North North Park Avenue in Chicago's Old Town was sold for $1,362,444. Each unit features 3 bedrooms, 3 bathrooms, marble fireplaces, commercial-grade kitchens, and private rooftop decks. One of the units is currently rented for $4,500 per month.

Summary of transaction details:

Dee Thompson of @Properties Christie's International Real Estate and Jacob McClure of Fulton Grace Realty were the key individuals involved in brokering the deal for the two-unit building at 1442 North North Park Avenue in Chicago's Old Town. Thompson represented the buyer, while McClure was the seller's representative.

Players

Dee Thompson
2 deals$3.1M volume(773) 472-0200
BROKER

Jacob McClure
Fulton Grace Realty
1 deal$1.4M volume(312) 468-2669
BROKER

Details

SOLD
IMAGE: Dee Thompson & Jacob McClure DATE: 06/06/2024 ADDRESS: 1442 North North Park Avenue MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Dee Thompson - @Properties (@AtProperties) Christie's International Real Estate (@ChristiesRealEstate) SELLER'S REP: Jacob McClure - Fulton Grace Realty (@FultonGraceRealty) SALE PRICE: $1,362,444 UNITS: 2 ~ PPU: $681,222 NOTE: A 7,000-square-foot, two-unit building at 1442 North North Park Avenue in Chicago's Old Town sold for $1,362,444, brokered by Dee Thompson of @Properties Christie's International Real Estate and Jacob McClure of Fulton Grace Realty. Each unit features 3 bedrooms, 3 bathrooms, marble fireplaces, commercial-grade kitchens, and private rooftop decks, with one unit currently rented for $4,500 per month.

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

$72,663.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,840.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,458.68
Annual Debt Service$77,504.16