Studio Oakley Acquires Multifamily Asset From Saratoga Fund In Chicago
SOLD
$2,525,000
Illinois
See Similar DealsMultiFamily10,650 SF
Sold 05/24/2024
SOLD
Studio Oakley Acquires Multifamily Asset From Saratoga Fund In Chicago
2203 West Rice Street
See Similar DealsMultiFamily10,650 SF
Sold 05/24/2024
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$237
Total Square Footage:10,650 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$134,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,970.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,969.79
Annual Debt Service$143,637.46
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