Marc Realty Residential Sells Multifamily Property In Chicago For $5.5M
SOLD
$5,475,000
+ 1
Illinois
See Similar DealsMultiFamily1,050 SF
Sold 09/25/2020
SOLD
Marc Realty Residential Sells Multifamily Property In Chicago For $5.5M
2240 West Morse Avenue, Chicago, IL, USA
See Similar DealsMultiFamily1,050 SF
Sold 09/25/2020
+ 1
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$5,214
Total Square Footage:1,050 SF
Transaction Type:Sale
The multifamily property located at 2240 West Morse Street in Chicago was recently sold for $5,475,000. The transaction took place on September 25, 2020. The property consists of 32 units, with each unit priced at approximately $171,094.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $5,475,000
- Address: 2240 West Morse Street, Chicago
- Market: Chicago
- Units: 32
- Price Per Unit (PPU): $171,094
The sale was facilitated by Jordan Gottlieb, Jim Darrow, Doug Imber, and Kate Varde of Essex Realty Group. They represented the seller, Marc Realty Residential, in the transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$292,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,451.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,954.29
Annual Debt Service$311,451.52
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