Cortland Acquires Multifamily Property In Chicago For $105M
220 West Illinois Street, Chicago, Illinois 60611, United States
$105,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 19, 2022
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.
Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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