Dream Town Realty Acquires Multifamily Property In Chicago For $1.135M
SOLD
$1,135,000
Illinois
See Similar DealsMultiFamily3,600 SF
Sold 11/19/2021
SOLD
Dream Town Realty Acquires Multifamily Property In Chicago For $1.135M
1646 West Cortland Street, Chicago, IL 60622, USA
See Similar DealsMultiFamily3,600 SF
Sold 11/19/2021
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$315
Total Square Footage:3,600 SF
Transaction Type:Sale
The multifamily property located at 1646 W Cortland St in Chicago was recently sold. The sale was facilitated by Colin Hebson of Dream Town Realty, who represented the buyer, and Jill Silverstein of Compass, who represented the seller.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,135,000
- Units: 3
- Price per Unit: $378,333
- Lot Size: 3,600 square feet
- Price per Square Foot: $315
The property consists of three units, with each unit priced at approximately $378,333. The lot size of the property is 3,600 square feet, resulting in a price per square foot of $315.
Colin Hebson of Dream Town Realty and Jill Silverstein of Compass played crucial roles in finalizing the sale of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$60,533.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,032.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,380.48
Annual Debt Service$64,565.75
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