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Chicago's West Ridge Multifamily Sells For $2.26M With Buyer's Rep Andy Friedman & Danny Logarakis

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SOLD
$2,260,000

Illinois

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MultiFamily
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SOLD

Chicago's West Ridge Multifamily Sells For $2.26M With Buyer's Rep Andy Friedman & Danny Logarakis

2641 W Estes Ave, West Ridge, Chicago, IL, USA

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MultiFamily
Sold
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 2641 - 2643 W. Estes Ave in West Ridge, Chicago was recently sold in a closed transaction. The sale was facilitated by brokers Andy Friedman and Danny Logarakis from Kiser Group. The property consists of 16 units, and the sale price for the transaction was $2,260,000, resulting in a price per unit (PPU) of $141,250.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $2,260,000
  • Units: 16
  • Price Per Unit (PPU): $141,250
  • Brokers: Andy Friedman & Danny Logarakis - @KiserGroup

Andy Friedman and Danny Logarakis from Kiser Group were instrumental in representing the parties involved in this multifamily property transaction. Their expertise and negotiation skills contributed to the successful sale of the property.

Players

Andrew (Andy) Friedman
20 deals$131.5M volume
BROKER

Danny Logarakis
Kiser Group
15 deals$82.1M volume
BROKER

Details

SOLD
IMAGE: Andy Friedman & Danny Logarakis DATE: 01/28/2021 ADDRESS: 2641 - 2643 W. Estes Ave MARKET: West Ridge, Chicago ASSET TYPE: Multifamily BROKERS: Andy Friedman & Danny Logarakis - @KiserGroup SALE PRICE: $2,260,000 UNITS: 16 ~ PPU: $141,250

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

$120,533.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,029.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,713.55
Annual Debt Service$128,562.64