LW Reedy Real Estate Represents Buyer In $1.115M Multifamily Sale In Chicago
2624 West Iowa Street, Chicago, IL 60622
$1,115,000
$318/SF
Building Size
3,500 SF
Asset Type
MultiFamily
Closing
Sep 13, 2021
AI
The multifamily property located at 2624 W Iowa St in Chicago has been recently sold for a total price of $1,115,000. The transaction took place on 09/13/2021, and the property consists of 6 units. This equates to a price per unit of $185,833. The lot size of the property is 3,500 square feet. The sale was facilitated by Rich Anselmo Properties Bucktown on behalf of the seller, and Jon Waldschmidt from LW Reedy Real Estate represented the buyer in this deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,115,000
- Date: 09/13/2021
- Address: 2624 W Iowa St
- Market: Chicago
- Units: 6
- Price per Unit: $185,833
- Lot Size: 3,500 square feet
- Buyer's Representative: Jon Waldschmidt - LW Reedy Real Estate
- Seller's Representative: Rich Anselmo Properties Bucktown
Jon Waldschmidt from LW Reedy Real Estate acted as the buyer's representative in the transaction. He played a significant role in negotiating and finalizing the deal on behalf of the buyer. Rich Anselmo Properties Bucktown, on the other hand, served as the seller's representative, ensuring a smooth sale process.
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
14.23%
Cash-on-Cash
-4.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93