Thomas Moran Properties Christie's International Real Estate Represents Buyer In Chicago Multifamily Sale For $2.03M
2619 North Kimball Avenue
$2,030,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 17, 2024
AI
A multi-family property located at 2619 North Kimball Avenue in Chicago has been sold for $2,030,000, representing $406,000 per unit. The property consists of 5 units and has undergone recent gut renovations. It features condo-grade finishes, with final delivery expected by June 24, 2024. The current leases generate monthly rents ranging from $2,600 to $4,250.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $2,030,000
- Units: 5
- Price Per Unit: $406,000
- Buyer's Representative: Thomas Moran Properties Christie's International Real Estate
- Seller's Representative: Daniel Straus - Dream Town Real Estate
The transaction was facilitated by Thomas Moran, representing the buyer, and Daniel Straus, representing the seller. This deal underscores the collaborative efforts of the real estate representatives involved in closing the property sale.
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
7.81%
Cash-on-Cash
-2.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93