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2233 North Southport Avenue

4-Unit Multifamily Building In Lincoln Park Sells For $1.04M In Chicago
SOLDMultiFamily

4-Unit Multifamily Building In Lincoln Park Sells For $1.04M In Chicago

2233 North Southport Avenue

$1,040,000

Building Size

Asset Type

MultiFamily

Closing

May 24, 2024

AI

A 4-unit multifamily building located at 2233 North Southport Avenue in Chicago's Lincoln Park has been sold for $1.04 million. The property includes a 2-car garage and offers potential for attic expansion. Situated near DePaul University and public transportation, it presents a promising investment opportunity.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $1,040,000
  • Units: 4
  • Price Per Unit: $260,000
  • Address: 2233 North Southport Avenue, Chicago
  • Market: Chicago

The sale was facilitated by Bilal Malas from Real People Realty who represented the buyer, and David Hejnowski from Redco, Inc who represented the seller. Both parties played crucial roles in ensuring the successful transaction of this multifamily property.

Players

David Hejnowski

Broker

$2.7M

vol

2 deals

Broker

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

15.25%

Cash-on-Cash

-4.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93