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2253 North Spaulding Avenue

Mike Rasmussen Of Christie's International Real Estate Represents Buyer In Chicago Multifamily Sale For $1.46M
SOLDMultiFamily

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:

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

Mike Rasmussen

At Properties Commercial

Broker

$3.3M

vol

3 deals

Broker

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