Chelsea Gideon Acquires Multifamily Property In Chicago For $1.25M
SOLD
$1,250,000
Illinois
See Similar DealsMultiFamily3,125 SF
Sold 03/10/2022
SOLD
Chelsea Gideon Acquires Multifamily Property In Chicago For $1.25M
2553 North Southport Avenue, Chicago, Illinois 60614, United States
See Similar DealsMultiFamily3,125 SF
Sold 03/10/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$400
Total Square Footage:3,125 SF
Transaction Type:Sale
The multifamily property located at 2553 N Southport Ave in Chicago has been sold for $1,250,000. This property consists of 2 units, resulting in a per unit price of $625,000. The lot size is 3,125 square feet, translating to a price per square foot of $400.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,250,000
- Units: 2
- Price per Unit: $625,000
- Lot Size: 3,125 square feet
- Price per Square Foot: $400
Chelsea Gideon from Gideon Properties represented the buyer in this transaction, while Steve Green from Baird & Warner Oak Park served as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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