Updated Dec 4, 2024
Becovic Residential Acquires Multifamily Building In Chicago For $2M
1546 West Jonquil Terrace
$2,000,000
Units
27
Asset Type
MultiFamily
Closing
Mar 26, 2024
About this deal
AI
The multifamily property at 1546 West Jonquil Terrace in Chicago was sold for $2 million in a transaction involving 27 units with a price per unit of $74,074. The property was acquired by Sal Becovic of Becovic Residential, with the deal facilitated by CBRE's Justin Ross and Danny Byrne. Financing for the acquisition was provided by Devon Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 1546 West Jonquil Terrace, Chicago
- Market: Chicago
- Buyer: Sal Becovic - Becovic Residential
- Brokers: Danny Byrne & Justin Ross - CBRE
- Lender: Devon Bank
- Units: 27
- Price Per Unit: $74,074
Becovic Residential, a Chicago-based multifamily owner, managed the acquisition of the 27-unit apartment building in Rogers Park and has plans for extensive improvements through Becovic Management Group.
On the Map
$2,000,000
MultiFamily
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Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $74.1K per unit across 27 units on a published $2M (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93