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1651 East 74th Place, Chica...

Finley Askin Acquires Multifamily Property In South Shore, Chicago For $1.47M
SOLDMultiFamily

Finley Askin Acquires Multifamily Property In South Shore, Chicago For $1.47M

1651 East 74th Place, Chicago, Illinois 60649, United States

$1,470,000

$116/SF

Building Size

12,632 SF

Asset Type

MultiFamily

Closing

Apr 18, 2022

AI

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.

Players

Finley Askin

Matthews

Broker

$117.9M

vol

26 deals

Broker

Chicago 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

10.79%

Cash-on-Cash

-3.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93