Updated Dec 4, 2024
4-Unit Multifamily Building In Lincoln Park Sells For $1.04M In Chicago
2233 North Southport Avenue
$1,040,000
Units
4
Asset Type
MultiFamily
Closing
May 24, 2024
About this deal
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.
On the Map
$1,040,000
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
15.25%
Cash-on-Cash
-4.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93