Updated Jun 8, 2026
Sedgwick Properties LLC Acquires Multifamily Property In Chicago For $2.5 Million
1503 North Wieland Street
$2,500,000
$470/SF
Building Size
5,310 SF
Asset Type
MultiFamily
Closing
Jun 5, 2026
About this deal
AI
The transaction involved an eight-unit multifamily property located at 1503 North Wieland Street in the market of Chicago, IL. The property spans 5,310 square feet and was originally built in 1899. The property was sold for a total transaction amount of $2,500,000, translating to a price per unit of $312,500 and a price per square foot of $471.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Units: 8
- Square Footage: 5,310
- Price Per Unit: $312,500
- Price Per Square Foot: $471
- Buyer: Sedgwick Properties LLC
- Seller: 1503 North Weiland Street (Chicago) LLC
- Broker: Kyle Stengle - Marcus & Millichap
Kyle Stengle of Marcus & Millichap represented both sides in this transaction, facilitating the sale between Sedgwick Properties LLC and 1503 North Weiland Street (Chicago) LLC, ensuring a smooth process in the deal.
On the Map
$2,500,000
$470/SF
MultiFamily
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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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93