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Interra Realty Brokers 19-Unit Multifamily Sale In Chicago's West Loop And Andersonville Neighborhoods To Out-of-State Buyer For $5.025M

Property Image
SOLD
$5,025,000
Jeremy Morton
Brad Feldman

Illinois

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MultiFamily
Sold
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Property Image
SOLD

Interra Realty Brokers 19-Unit Multifamily Sale In Chicago's West Loop And Andersonville Neighborhoods To Out-of-State Buyer For $5.025M

1619 W Warren Blvd Chicago, Il 60612, Usa

See Similar Deals
MultiFamily
Sold
Jeremy Morton
Brad Feldman
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 1619-1621 West Warren Boulevard & 1554 West Hollywood Avenue in Chicago has been sold for a total of $5,025,000. The property consists of 19 units, with a price per unit of $264,474.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,025,000
  • Units: 19
  • Price Per Unit (PPU): $264,474

Interra Realty, represented by Jeremy Morton and Brad Feldman, brokered the sale of this property. The deal reflects the stable demand and predictable returns in the Chicago market. Notably, Interra Realty also facilitated another multifamily sale in the West Loop and Andersonville neighborhoods to the same out-of-state buyer. The prices per unit in these transactions were $246,875 and $277,273, respectively.

Players

Brad Feldman
Interra Realty
Brad Feldman
36 deals$282.9M volume
BROKER
Jeremy Morton
Interra Realty
Jeremy Morton
25 deals$85.4M volume
BROKER

Details

SOLD
IMAGE: Brad Feldman & Jeremy Morton DATE: 05/16/2023 ADDRESS: 1619-1621 West Warren Boulevard & 1554 West Hollywood Avenue MARKET: Chicago ASSET TYPE: Multifamily BROKERS: Jeremy Morton (@JMorton22) & Brad Feldman (@BSFeldman) - Interra Realty (@InterraRealty) SALE PRICE: $5,025,000 UNITS: 19 ~ PPU: $264,474 NOTE: Interra Realty brokered two multifamily sales in Chicago's West Loop and Andersonville neighborhoods to the same out-of-state buyer. The transactions reflect stable demand and predictable returns in the city, with prices per unit at $246,875 and $277,273.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$268,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,852.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,821.06
Annual Debt Service$285,852.76