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Thomas Moran Properties Christie's International Real Estate Represents Buyer In Chicago Multifamily Sale For $2.03M

Property Image
SOLD
$2,030,000
Thomas (Tom) Moran
Daniel Straus

Illinois

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MultiFamily
Sold 10/17/2024
the dealplayerscompscontact
Property Image
SOLD

Thomas Moran Properties Christie's International Real Estate Represents Buyer In Chicago Multifamily Sale For $2.03M

2619 North Kimball Avenue

See Similar Deals
MultiFamily
Sold 10/17/2024
Thomas (Tom) Moran
Daniel Straus
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

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:

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

Thomas (Tom) Moran
At Properties Commercial
Thomas Moran
6 deals$14.3M volume(773) 472-0200
BROKER
Daniel Straus
Dream Town Real Estate
Daniel Straus
1 deal$2M volume(847) 778-3266
BROKER

Details

SOLD
IMAGE: Thomas Moran & Daniel Straus DATE: 10/17/2024 ADDRESS: 2619 North Kimball Avenue MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Thomas Moran - @Properties (@AtProperties) Christie's International Real Estate (@ChristiesRealEstate) SELLER'S REP: Daniel Straus (@DanStrausrealestate) - Dream Town Real Estate (@DreamTownChicago) SALE PRICE: $2,030,000 UNITS: 5 ~ PPU: $406,000 NOTE: A multi-family property at 2619 North Kimball Avenue in Chicago was sold for $2.03 million, representing $406,000 per unit. The 5-unit building, recently gutted and under reconstruction, features condo-grade finishes and will have final delivery expected by June 24, 2024, with current leases generating monthly rents ranging from $2,600 to $4,250.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$108,266.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,212.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,623.24
Annual Debt Service$115,478.83