John Corry & John Pontarelli Facilitate $1.5M Multifamily Sale In Chicago
2327 North Southport Avenue
$1,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 7, 2024
AI
A four-story brick multifamily building at 2327 North Southport Avenue in Chicago sold for $1.5 million. The property, brokered by John Pontarelli of Pontarelli Associates and represented by John Corry of Exit Strategy Realty, includes a 3-flat building and a high-end renovated coach house, each unit equipped with its own appliances and HVAC systems.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Address: 2327 North Southport Avenue
- Market: Chicago
- Buyer's Representative: John Corry - Exit Strategy Realty
- Seller's Representative: John Pontarelli - Pontarelli Associates
The deal involved the buyer's representative, John Corry from Exit Strategy Realty, and the seller's representative, John Pontarelli from Pontarelli Associates, who facilitated the transaction of the multifamily property in Chicago.
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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93