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2340 West Erie Street

Marc Zale Acquires Multifamily Asset In Chicago For $1.13M
SOLDMultiFamily

Marc Zale Acquires Multifamily Asset In Chicago For $1.13M

2340 West Erie Street

$1,130,000

$324/SF

Building Size

3,485 SF

Asset Type

MultiFamily

Closing

Nov 3, 2021

AI

The multifamily property located at 2340 W Erie St in Chicago has been sold for a price of $1,130,000. The property consists of 3 units, with an average price per unit of $376,667. The lot size is 3,485 square feet, resulting in a price per square foot of $324.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,130,000
  • Units: 3
  • Price per Unit: $376,667
  • Lot Size: 3,485 square feet
  • Price per square foot: $324

Marc Zale from Compass represented the buyer in this transaction, while Nick Tanev from Venat Properties LLC represented the seller.

Players

Marc Zale

Compass

Broker

$8.5M

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

14.04%

Cash-on-Cash

-4.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93