The property asset involved in the transaction is a 17-unit apartment building with ground-floor retail located at 1555 North Milwaukee Avenue in the Bucktown neighborhood of Chicago. The sale price for this fully leased multifamily property was $2,800,000, which translates to a price per unit of $164,706. The transaction was completed at a 6.88% cap rate and was achieved within 5% of the asking price in under three months.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,800,000
• Units: 17
• Price Per Unit: $164,706
• Cap Rate: 6.88%
• Location: 1555 North Milwaukee Avenue, Chicago
• Market: Chicago

Wayne Caplan and José Colón from SVN Chicago Commercial represented the seller in this transaction. The brokerage played a crucial role in facilitating the deal, showcasing their expertise in handling multifamily property transactions.