Updated Dec 4, 2024
Paul Cawthon & Angelo Labriola Of SVN Facilitate $3.4M Sale Of Multifamily Building In Chicago's Pilsen Area
1800 South Carpenter Street
$3,400,000
Units
11
Asset Type
MultiFamily
Closing
May 8, 2024
About this deal
AI
An 11-unit apartment building located at 1800 S. Carpenter St. in Chicago's Pilsen neighborhood was sold for $3,400,000. The transaction was facilitated by SVN Chicago Commercial, with Paul Cawthon and Angelo Labriola of SVN representing both the buyer and seller. The out-of-state buyer secured a Freddie Mac Small Balance Loan for the purchase.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,400,000
- Address: 1800 South Carpenter Street
- Market: Chicago
- Brokers: Paul Cawthon & Angelo Labriola - SVN
- Units: 11
- Price Per Unit: $309,091
The sale also involved the out-of-state buyer obtaining the Freddie Mac Small Balance Loan (SBL) for the purchase, showcasing the financial aspect behind the successful acquisition of the property.
On the Map
$3,400,000
MultiFamily
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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
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93