Updated Sep 9, 2024
Unknown Purchases Property At 2551 W Hirsch St Chicago For $1.3M With Seller's Reps Abe Eilian And Douglas Fisher
2551 W Hirsch St, Chicago, IL, 60622
$1,300,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 1, 2019
About this deal
AI
The property involved in the transaction is located at 2551 W Hirsch St, Chicago, IL 60622, within the Chicago market. It consists of a nine-unit corner apartment building, which includes one one-bed/one-bath loft unit and eight two-bed/one-bath units. The sale price was $1,300,000, and the total square footage of the property is reported as 0, indicating that specific square footage details were not provided in the context. The property features basement space that runs the entire length of the building and is situated on the southeast corner of the intersection of Hirsch Street and Rockwell Street.
Summary of transaction details:
- Property Type: Apartment Building
- Transaction Amount: $1,300,000.00
- Address: 2551 W Hirsch St, Chicago, IL 60622
- Market: Chicago
- Seller's Representative: Abe Eilian - Essex Realty Group
- Seller's Representative: Douglas Fisher - Essex Realty Group
- Buyer: Unknown
Essex Realty Group, Inc. facilitated the sale, with Abe Eilian and Doug Fisher representing the seller in this transaction. The building is located within walking distance of Chicago’s popular 606 Trail and is close to various restaurants, cafes, and shops in the Humboldt Park, Logan Square, and Wicker Park neighborhoods. It also offers convenient access to multiple CTA bus stops along Western Avenue, North Avenue, and Division Street.
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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93