Updated Sep 9, 2024
Historic Greystone Building In Lincoln Park Chicago Sells For $3.95M
2235 N Fremont St Chicago, IL 60614, USA
$3,950,000
Units
4
Asset Type
MultiFamily
Closing
Jul 27, 2023
About this deal
AI
This historic Greystone building in Lincoln Park, Chicago was recently sold for a price of $3,950,000. The property, located at 2235 North Fremont Street, is a multifamily asset consisting of a 4-unit structure. The sale price translates to approximately $987,500 per unit. The property offers great flexibility, with a large owner's unit and three rental apartments.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $3,950,000
- Address: 2235 North Fremont Street
- Market: Chicago
The buyer's representative in this transaction was Matt Leutheuser from Jameson Sotheby's International Realty. On the other hand, Suzanne Gignilliat from Suzanne Gignilliat Properties represented the seller. The deal presents various opportunities for the property, including utilizing it as a live-in owner with rental income, condo conversion, investment opportunity, or even as a spacious single-family home.
On the Map
$3,950,000
MultiFamily
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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
4.02%
Cash-on-Cash
-1.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93