Multifamily Asset On North Wells Street Sold For $2.825M With Brokers Matt Feo Abe Eilian Drake Orser
SOLD
$2,825,000
Illinois
See Similar DealsMultiFamily6,255 SF
Sold 05/05/2025
SOLD
Multifamily Asset On North Wells Street Sold For $2.825M With Brokers Matt Feo Abe Eilian Drake Orser
1539 North Wells Street
See Similar DealsMultiFamily6,255 SF
Sold 05/05/2025
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$451
Total Square Footage:6,255 SF
Transaction Type:Sale
The asset involved in the transaction is a multifamily property located at 1539 North Wells Street in Chicago. It consists of 4 units with a total square footage of 6,255, resulting in a price per unit of $706,250 and a price per square foot of $451. The transaction amount was $2,825,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,825,000
- Units: 4
- Square Footage: 6,255
- Price Per Unit: $706,250
- Price Per Square Foot: $451
- Date of Sale: 5/5/2025
- Market: Chicago
The individuals involved in the deal include Matt Feo, Abe Eilian, and Drake Orser, all representing Essex Realty Group. They played a key role in facilitating the transaction and served as the brokers for the multifamily property sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$150,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,036.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,391.94
Annual Debt Service$160,703.29
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