Mike Rasmussen Of Christie's International Real Estate Represents Buyer In Chicago Multifamily Sale For $1.46M
2253 North Spaulding Avenue
$1,460,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 6, 2024
AI
A historic four-flat building located at 2253 North Spaulding Avenue in Chicago's Logan Square was sold for $1,460,000. The property comprises three 3-bedroom units and one studio, showcasing original architectural details along with updated interiors. It also includes a 2-car garage.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,460,000
- Buyer's Representative: Mike Rasmussen - Christie's International Real Estate
- Seller's Representative: Michael Hagenson - New Era Chicago
This transaction involved Mike Rasmussen representing the buyer, and Michael Hagenson representing the seller, demonstrating the collaboration between the two brokerage firms in facilitating the sale of this multifamily asset.
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
10.87%
Cash-on-Cash
-3.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93