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Greenstone Partners Sells 25-Unit Multifamily Property At 1741 North Western Avenue For $6.25M

Property Image
SOLD
$6,250,000
Danny Spitz
Jordan Multack

Illinois

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MultiFamily
Sold 01/13/2025
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Property Image
SOLD

Greenstone Partners Sells 25-Unit Multifamily Property At 1741 North Western Avenue For $6.25M

1741 North Western Avenue

See Similar Deals
MultiFamily
Sold 01/13/2025
Danny Spitz
Jordan Multack
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

1741 North Western Avenue is a 25-unit multifamily property located in Chicago's Bucktown neighborhood. The property was sold for $6.25 million, translating to a price per unit of $250,000. Built in 2020, it includes a combination of market-rate and affordable units and offers modern amenities along with potential for value addition for the buyer.

Summary of transaction details:

Jordan Multack and Danny Spitz, both affiliated with Greenstone Partners, represented the seller in this transaction, facilitating the sale of the multifamily property to a buyer seeking value-add opportunities in a growing neighborhood.

Players

Danny Spitz
Greenstone Partners
Danny Spitz
24 deals$215M volume
BROKER
Jordan Multack
Greenstone Partners
Jordan Multack
46 deals$187.6M volume
BROKER

Details

SOLD
IMAGE: Jordan Multack & Danny Spitz DATE: 01/13/2025 ADDRESS: 1741 North Western Avenue MARKET: Chicago ASSET TYPE: MultiFamily SELLER: Greenstone Partners BROKERS: Jordan Multack (@Tackness) & Danny Spitz - Greenstone Partners (@GreenstonePartners) SALE PRICE: $6,250,000 UNITS: 25 ~ PPU: $250,000 NOTE: Greenstone Partners sold 1741 North Western, a 25-unit multifamily property in Chicago’s Bucktown neighborhood, for $6.25 million ($250K/unit). The 2020-built property includes market-rate and affordable units, modern amenities, and value-add potential for the buyer.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,204.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,628.19
Annual Debt Service$355,538.26