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Alexander Cohen Of Compass Represents Buyer In $1.15 Million Multifamily Sale In Chicago

Property Image
SOLD
$1,150,000
Heather Hillebrand
Alexander Cohen
Zoe Hammond

Illinois

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MultiFamily
Sold 08/19/2024
the dealplayerscompscontact
Property Image
SOLD

Alexander Cohen Of Compass Represents Buyer In $1.15 Million Multifamily Sale In Chicago

1911 West Berteau Avenue

See Similar Deals
MultiFamily
Sold 08/19/2024
Heather Hillebrand
Alexander Cohen
Zoe Hammond
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A legal three-flat Victorian Queen Anne-style property located at 1911 West Berteau Avenue in Chicago's North Center sold for $1.15 million, translating to $383,333 per unit. The asset consists of three units and features nearly original woodwork and updated kitchens, offering a blend of historic charm and modern amenities, making it desirable for both owner-occupants and investors.

Summary of transaction details:

This transaction involved key representatives in the real estate market, with Alexander Cohen serving as the buyer's representative from Compass and Heather Hillebrand alongside Zoe Hammond representing the seller from Dream Town Real Estate.

Players

Heather Hillebrand
Heather Hillebrand
2 deals$2.4M volume
BROKER
Alexander Cohen
Compass
Alexander Cohen
2 deals$2.3M volume
BROKER
Zoe Hammond
Dream Town Real Estate
Zoe Hammond
1 deal$1.2M volume(773) 891-6867
BROKER

Details

SOLD
IMAGE: Heather Hillebrand, Alexander Cohen & Zoe Hammond DATE: 08/19/2024 ADDRESS: 1911 West Berteau Avenue MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Alexander Cohen (@AlexfCohen) - Compass (@Compass) SELLER'S REP: Heather Hillebrand (@TheHillebrandTeam) & Zoe Hammond (@ZoeHammond773) - Dream Town Real Estate (@DreamTownChicago) SALE PRICE: $1,150,000 UNITS: 3 ~ PPU: $383,333 NOTE: A Victorian Queen Anne-style property in Chicago's North Center sold for $1.15 million, or $383,333 per unit. The legal three-flat, featuring nearly original woodwork, updated kitchens, and a potential fourth unit, offers a mix of historic charm and modern amenities, appealing to both owner-occupants and investors.

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

$61,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,085.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,451.59
Annual Debt Service$65,419.04