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
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