TLC Management Acquires Multifamily Asset In Chicago For $46M
SOLD
$46,000,000
Illinois
See Similar DealsMultiFamily632 SF
Sold 08/25/2020
SOLD
TLC Management Acquires Multifamily Asset In Chicago For $46M
1801 West Argyle Street, Chicago, IL 60640
See Similar DealsMultiFamily632 SF
Sold 08/25/2020
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$72,784
Total Square Footage:632 SF
Transaction Type:Sale
The multifamily property located at 1801 West Argyle Street in Chicago has been sold in a closed transaction. The property, consisting of 150 units, was sold by The Carlyle Group to TLC Management for a price of $46,000,000. The deal was facilitated by broker Bill Baumann from Monarch Realty Partners. The transaction took place on 08/25/2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $46,000,000
- Units: 150
- Price per Unit: $306,666
- Market: Chicago
- Buyer: TLC Management
- Seller: The Carlyle Group
- Broker: Bill Baumann - Monarch Realty Partners
- Date: 08/25/2020
- Address: 1801 West Argyle Street
In this transaction, TLC Management successfully acquired the multifamily property from The Carlyle Group. Bill Baumann from Monarch Realty Partners served as the broker representing both parties. The deal represents a significant investment in the Chicago market.
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SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,453,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$163,428.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$218,063.47
Annual Debt Service$2,616,761.62
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