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1637 Carlemont Drive, Cryst...

Paul Chernawsky Acquires Randall Village Condominiums In Crystal Lake Multifamily Sale
SOLDMultiFamily

Paul Chernawsky Acquires Randall Village Condominiums In Crystal Lake Multifamily Sale

1637 Carlemont Drive, Crystal Lake, IL 60014

$25,010,000

$137/SF

Building Size

182,056 SF

Asset Type

MultiFamily

Closing

May 17, 2020

AI

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.

Players

Matthew Peters

Marcus & Millichap

Broker

$159.6M

vol

28 deals

Broker

Paul Chernawsky

Buyer

$79.6M

vol

2 deals

Buyer

Crystal Lake MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.63%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93