Dremtown Realty Acquires Multifamily Property In Lincoln Park For $2.4M
SOLD
$2,465,000
Illinois
See Similar DealsMultiFamily4,600 SF
Sold 03/10/2022
SOLD
Dremtown Realty Acquires Multifamily Property In Lincoln Park For $2.4M
1951 North Fremont Street, Chicago, Illinois 60614, United States
See Similar DealsMultiFamily4,600 SF
Sold 03/10/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$535
Total Square Footage:4,600 SF
Transaction Type:Sale
A multifamily property located at 1951 N Fremont St in Lincoln Park was recently sold. The property consists of 7 units with a total square footage of 4,600. The asking price for the property was $2,605,000, and it was ultimately sold for $2,465,000, resulting in a price per unit of $352,143 and a price per square foot of $536.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $2,465,000
- Address: 1951 N Fremont St
- Market: Lincoln Park
The buyer's representative in the deal was John Campas from Dremtown Realty, while the seller's representative was Victoria Waliczek from Coldwell Banker.
These individuals and their respective agencies played crucial roles in the successful completion of this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$131,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,757.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,685.36
Annual Debt Service$140,224.29
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