Updated Dec 12, 2024
CBRE Investment Management Acquires Multifamily Property In Evanston For $71M
1717 Ridge Avenue, Evanston, IL, USA
$71,000,000
Units
175
Asset Type
MultiFamily
Closing
Dec 8, 2021
About this deal
AI
The multifamily property located at 1717 Ridge Ave in Evanston has been sold for a price of $71,000,000. The property consists of 175 units, resulting in a price per unit of $405,714.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $71,000,000
- Address: 1717 Ridge Ave
- Market: Evanston
The buyer of the property is CBRE Investment Management, while the seller is Invesco Real Estate. The deal was facilitated by Kevin Girard, Matthew Lawton, and Mark Stern of JLL Capital Markets.
On the Map
$71,000,000
MultiFamily
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Players
Evanston 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93