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2034 N Orleans St Chicago, ...

Brian Brak Acquires Multifamily Property In Chicago For $2M
SOLDMultiFamily

Brian Brak Acquires Multifamily Property In Chicago For $2M

2034 N Orleans St Chicago, IL 60614, USA

$2,000,000

Building Size

Asset Type

MultiFamily

Closing

Jul 26, 2023

AI

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

At Properties Commercial

Broker

$7.4M

vol

3 deals

Broker

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

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93