Updated Oct 28, 2024
Cortland Acquires Multifamily Property In Chicago For $105M
220 West Illinois Street, Chicago, Illinois 60611, United States
$105,000,000
Units
185
Asset Type
MultiFamily
Closing
Jul 19, 2022
About this deal
AI
The multifamily property located at 220 West Illinois Street in Chicago has been sold in a recent transaction for a total of $105,000,000. The sale was completed on 07/20/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $105,000,000
- Address: 220 West Illinois Street, Chicago
- Market: Chicago
- Buyer: Cortland - Steven DeFrancis
- Seller: Mapletree - Hiew Yoon Khong
- Units: 188
- Price per Unit (PPU): $558,511
Cortland, represented by Steven DeFrancis, acquired the property from Mapletree, represented by Hiew Yoon Khong, in this transaction. The property consists of 188 units.
On the Map
$105,000,000
MultiFamily
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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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93