Updated Oct 21, 2026
SOLDMultiFamily
Martin Smith Acquires Multifamily Properties In Chicago From Andrew Bulkski For $1.65M
2318 South Homan Avenue & 4459 West Jackson Boulevard
$1,650,000
$253/SF
Building Size
6,500 SF
Asset Type
MultiFamily
Closing
Sep 1, 2026
About this deal
AI
Two multifamily properties located at 2318 South Homan Avenue and 4459 West Jackson Boulevard in Chicago have been sold for a total price of $1,650,000. The properties encompass 15 residential units, with a combined square footage of 6,500. The price per unit is $110,000, and the price per square foot is $253.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $1,650,000
- Units: 15
- Square Footage: 6,500
- Price Per Unit: $110,000
- Price Per Square Foot: $253
- Buyer: Martin Smith
- Seller: Andrew Bulkski
- Broker Representatives: Brian Mond & Davis Edgerly - Bauvista
The transaction reflects a continued interest in the multifamily real estate market in Chicago, particularly in transitioning neighborhoods. The deal showcases the efforts of Brian Mond and Davis Edgerly of Bauvista, who represented the seller, Andrew Bulkski, in this investment sale. Recent enhancements to the properties prepare the new owner for potential increases in rental income and overall asset value.
On the Map
$1,650,000
$253/SF
MultiFamily
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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
9.61%
Cash-on-Cash
-2.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93