Multifamily Property At 1948 North Lincoln Avenue Sold For $1,605,000 With Essex Realty Group
1948 North Lincoln Avenue
$1,605,000
Building Size
—
Asset Type
MultiFamily
Closing
May 12, 2026
AI
The transaction involved a multifamily asset located at 1948 North Lincoln Avenue in the Chicago market. The sale price for the property was $1,605,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,605,000
- Buyer's Representative: Rick Ofman - Essex Realty Group
- Seller's Representatives: Jim Darrow, Jordan Gottlieb & Brian Keegan - Essex Realty Group
This deal highlights the collaboration of Essex Realty Group, with Rick Ofman representing the buyer, while the sellers were represented by a team consisting of Jim Darrow, Jordan Gottlieb, and Brian Keegan, all from the same agency.
Players
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
9.88%
Cash-on-Cash
-2.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93