Finley Askin Acquires Multifamily Property In South Shore, Chicago For $1.47M
SOLD
$1,470,000
Illinois
See Similar DealsMultiFamily12,632 SF
Sold 04/19/2022
SOLD
Finley Askin Acquires Multifamily Property In South Shore, Chicago For $1.47M
1651 East 74th Place, Chicago, Illinois 60649, United States
See Similar DealsMultiFamily12,632 SF
Sold 04/19/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$116
Total Square Footage:12,632 SF
Transaction Type:Sale
A multifamily property located at 1651 E 74th Pl in South Shore, Chicago has been sold. The transaction took place on 04/19/2022. The property consists of 24 units and was sold for a total price of $1,470,000, resulting in a per unit price of $61,250. The property was listed by Finley Askin of CRER (Chicago Real Estate Resources) and Peaches Stewart of Peaches & Associates.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,470,000
- Date: 04/19/2022
- Address: 1651 E 74th Pl, South Shore, Chicago
- Units: 24
- Price Per Unit: $61,250
Finley Askin from CRER and Peaches Stewart from Peaches & Associates were the brokers involved in the deal. They played a key role in facilitating the transaction, representing the buyer and seller respectively.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$78,400.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,222.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,968.55
Annual Debt Service$83,622.60
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