Updated Nov 29, 2023
Concentric Realty Acquires Multifamily Property In Elgin For $1M
224 Jefferson Avenue, Elgin, IL, USA
$1,000,000
$91/SF
Building Size
10,956 SF
Asset Type
MultiFamily
Closing
Dec 21, 2020
About this deal
AI
A multifamily property located at 224 Jefferson Avenue in Elgin was recently sold. The transaction took place on December 22, 2020. The property spans 10,956 square feet and consists of 15 units. The sale price for the property was $1,000,000, resulting in a price per square foot of $91 and a price per unit of $66,667.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Square Footage: 10,956
- Address: 224 Jefferson Avenue, Elgin
- Market: Elgin
Robert Drafke from Concentric Realty, Inc represented the buyer in this transaction, while Matthew Lysien from Suburban Life Realty represented the seller. Both parties played crucial roles in facilitating the deal.
Players
Elgin 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93