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Brian Brak Acquires Multifamily Property In Chicago For $2M

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SOLD
$2,000,000

Illinois

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MultiFamily
Sold 07/26/2023
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Property Image
SOLD

Brian Brak Acquires Multifamily Property In Chicago For $2M

2034 N Orleans St Chicago, IL 60614, USA

See Similar Deals
MultiFamily
Sold 07/26/2023
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

This elegant Lincoln Park property, located at 2034 North Orleans Street in Chicago, was recently sold in a multifamily transaction. The property offers a range of options for potential buyers, including an armchair investment with three rental units, the opportunity to live in one unit while generating income from the others, or the possibility of converting it into a spacious single-family home with ample parking. The well-located property provides easy access to public transportation, Lake Shore Drive, and shopping.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,000,000
  • Market: Chicago
  • Address: 2034 North Orleans Street

The buyer's representative in this transaction was Brian Brak from Brak Realty Inc. On the other hand, Daniel Glick represented the seller. Both representatives played crucial roles in facilitating the sale of this property.

Players

Danny Glick
3 deals$7.4M volume
BROKER

Brian Brak
Brak Realty
1 deal$2M volume(773) 617-9487
BROKER

Details

SOLD
IMAGE: Daniel Glick & Brian Brak DATE: 07/26/2023 ADDRESS: 2034 North Orleans Street MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Brian Brak - Brak Realty Inc SELLER'S REP: Daniel Glick - @properties (@AtProperties) SALE PRICE: $2,000,000 NOTE: This elegant Lincoln Park property offers various options: an armchair investment with three rental units, living in one unit while generating income from the others, or converting it into a spacious single-family home with ample parking. The well-located property provides easy access to public transportation, Lake Shore Drive, and shopping.

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

$106,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24