Studio Oakley Acquires Multifamily Asset From Saratoga Fund In Chicago
2203 West Rice Street
$2,525,000
$237/SF
Building Size
10,650 SF
Asset Type
MultiFamily
Closing
May 24, 2024
AI
The multifamily property located at 2203 West Rice Street in Chicago was sold for $2,525,000. The asset comprises 12 units with a price per unit of $210,417. Spanning a total of 10,650 square feet, the property was transacted at a price per square foot of $237.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $2,525,000
- Buyer: Studio Oakley
- Seller: Saratoga Fund
- Broker: Chuck Dickstein - Quadrel Realty Group
Chuck Dickstein from Quadrel Realty Group represented the buyer Studio Oakley in the sale of the multifamily property, which saw Saratoga Fund as the seller. The transaction, finalized on 05/24/2024, underscored the involvement of key individuals and companies in the Chicago real estate market.
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
6.28%
Cash-on-Cash
-1.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93