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Michael Horwitz Of Cross Street Real Estate Represents Buyer In $1.48M Multifamily Sale In Chicago
SOLD
$1,482,500
Illinois
See Similar DealsMultiFamily
Sold 09/05/2024
SOLD
Michael Horwitz Of Cross Street Real Estate Represents Buyer In $1.48M Multifamily Sale In Chicago
2327 West Mclean Avenue
See Similar DealsMultiFamily
Sold 09/05/2024
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
The 5-unit multifamily building at 2327 West Mclean Avenue, Chicago, is on the market for a sale price of $1,482,500. The property includes a highly upgraded owner's unit featuring a private elevator and high-end finishes, along with a rooftop hot tub. There are four additional rental units within the asset.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,482,500
- Units: 5
- Price Per Unit: $296,500
- Buyer's Representative: Michael Horwitz - Cross Street Real Estate
- Seller's Representative: Kevin Bigoness - Dream Town Real Estate
Michael Horwitz from Cross Street Real Estate represented the buyer, while Kevin Bigoness from Dream Town Real Estate represented the seller in this transaction. The multifamily asset is located in the Chicago market, highlighting the active real estate environment in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,267.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,027.81
Annual Debt Service$84,333.68
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