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2327 North Southport Avenue

John Corry & John Pontarelli Facilitate $1.5M Multifamily Sale In Chicago
SOLDMultiFamily

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:

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

John Corry

Exit Strategy Realty

Broker

$4.2M

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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93