Updated Dec 21, 2023
Chelsea Gideon Acquires Multifamily Property In Chicago For $1.25M
2553 North Southport Avenue, Chicago, Illinois 60614, United States
$1,250,000
$400/SF
Building Size
3,125 SF
Asset Type
MultiFamily
Closing
Mar 9, 2022
About this deal
AI
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.
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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93