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Neveen Michael Acquires Multifamily Property On Lakewood Ave In Chicago For $2.93M

Property Image
SOLD
$2,925,000
Neveen Michael
Jeffrey "Jeff" Lowe

Illinois

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MultiFamily3,125 SF
Sold 08/05/2022
the dealplayerscompscontact
Property Image
SOLD

Neveen Michael Acquires Multifamily Property On Lakewood Ave In Chicago For $2.93M

2135 North Lakewood Avenue, Chicago, Illinois 60614, United States

See Similar Deals
MultiFamily3,125 SF
Sold 08/05/2022
Neveen Michael
Jeffrey "Jeff" Lowe
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$936
Total Square Footage:3,125 SF
Transaction Type:Sale

Located at 2135 N Lakewood Ave in Chicago, this multifamily property was recently sold for $2,925,000. The transaction took place on 08/05/2022, with a total of 3 units being sold at an average price of $975,000 per unit. The property sits on a lot with an area of 3,125 square feet, resulting in a price per square foot of $936.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,925,000
  • Units: 3
  • Price per Unit: $975,000
  • Lot Square Footage: 3,125
  • Price per Square Foot: $936
  • Market: Chicago

Neveen Michael from Keller Williams Realty Infinity represented the buyer in this transaction, while Jeff Lowe from Compass acted as the seller's representative. The property, located at 2135 N Lakewood Ave in Chicago, showcases its attractive features and strong market value.

Players

Jeffrey "Jeff" Lowe
Compass
Jeffrey Lowe
30 deals$95.8M volume
BROKER
Neveen Michael
Keller Williams Realty
Neveen Michael
1 deal$2.9M volume
BROKER

Details

SOLD
IMAGE: Neveen Michael & Jeff Lowe DATE: 08/05/2022 ADDRESS: 2135 N Lakewood Ave MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Neveen Michael (@NeveenMichael)- Keller Williams Realty Infinity SELLER'S REP: Jeff Lowe (@LoweGroupChicago) - Compass (@Compass) (@Compass.Chicago) SALE PRICE: $2,925,000 UNITS: 3 ~ PPU: $975,000 LOT SF: 3,125 ~ PPLSF: $936

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

$156,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,391.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,865.99
Annual Debt Service$166,391.91