Baum Realty Group Sells Flat Iron Arts Building In Chicago's Wicker Park For $19.7M
1579 N Milwaukee Ave, Chicago, IL, 6...
$19,700,000
$311/SF
Building Size
63,333 SF
Asset Type
MultiFamily
Closing
Nov 22, 2023
AI
The Flat Iron Arts Building in Chicago's Wicker Park neighborhood has been sold for $19.7 million. The historic property, spanning 63,333 square feet, is situated at the intersection of Milwaukee, North, and Damen avenues. This building is home to artist studios.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $19,700,000.00
- Address: 1579 N Milwaukee Ave, Chicago, IL
- Market: Chicago
Patrick Forkin and Vivian Perez from Baum Realty Group represented the seller, a local property owner, in the sale of the Flat Iron Arts Building. The buyer involved in this transaction remains undisclosed.
Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93