Paul Chernawsky Acquires Randall Village Condominiums In Crystal Lake Multifamily Sale
SOLD
$25,010,000
+ 1
Illinois
See Similar DealsMultiFamily182,056 SF
Sold 05/17/2020
SOLD
Paul Chernawsky Acquires Randall Village Condominiums In Crystal Lake Multifamily Sale
1637 Carlemont Drive, Crystal Lake, IL 60014
See Similar DealsMultiFamily182,056 SF
Sold 05/17/2020
+ 1
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$137
Total Square Footage:182,056 SF
Transaction Type:Sale
The multifamily property located at 1637 Carlemont Dr in Crystal Lake, known as Randall Village Condominiums, has been sold in a closed transaction. The sale took place on May 17, 2021, with a sale price of $25,010,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,010,000
- Units: 196
- Price Per Unit: $127,602
- Address: 1637 Carlemont Dr, Crystal Lake
- Market: Crystal Lake
The buyer in this transaction was Paul Chernawsky, while the sellers were the condo owners who initiated a condo de-conversion. Representing the buyer and seller in this deal were John Meyer, Sean Connelly, and Matt Peterson from 33 Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,855.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,560.16
Annual Debt Service$1,422,721.91
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