Updated Dec 20, 2023
RE/MAX Next Acquires Multifamily Property In Chicago For $1.2M
2338 North Greenview Avenue, Chicago, IL, USA
$1,201,887
$216/SF
Building Size
5,550 SF
Asset Type
MultiFamily
Closing
Dec 22, 2020
About this deal
AI
The property involved in this transaction is a multifamily asset located at 2338 N. Greenview Avenue in Chicago. The sale took place on December 23, 2020, with a purchase price of $1,201,887. With a total of 3 units, the price per unit of this property is approximately $400,629. The property is situated in a market with a cap rate of 4.87%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,201,887
- Units: 3
- Price per Unit: $400,629
- Cap Rate: 4.87%
Representing the buyer in this transaction is Michael Gerhardt from RE/MAX Next. Nathan Gautsche from Chicago Real Estate Resources served as the seller's representative. These individuals played crucial roles in facilitating the deal between both parties.
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
13.20%
Cash-on-Cash
-3.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93