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Karen Holt & Michael Hall Acquire Multifamily Property In Chicago For $1.8M

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SOLD
$1,800,000

Illinois

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MultiFamily3,485 SF
Sold 09/13/2021
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Property Image
SOLD

Karen Holt & Michael Hall Acquire Multifamily Property In Chicago For $1.8M

2648 North Orchard Street, Chicago, IL 60614, USA

See Similar Deals
MultiFamily3,485 SF
Sold 09/13/2021
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$516
Total Square Footage:3,485 SF
Transaction Type:Sale

The multifamily property located at 2648 N Orchard St in Chicago was recently sold for $1,800,000. The property spans a lot size of 3,485 square feet, resulting in a price per square foot of $516. This sale was represented by Karen Holt of Karen Holt Properties, acting as the buyer's representative, and Michael Hall of Baird & Warner, acting as the seller's representative.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,800,000
  • Lot Size: 3,485 square feet
  • Price Per Square Foot: $516
  • Buyer's Representative: Karen Holt Properties
  • Seller's Representative: Michael Hall - Baird & Warner

Karen Holt represented the buyer in this transaction through Karen Holt Properties, while Michael Hall of Baird & Warner represented the seller. This successful sale highlights the expertise and professionalism of these individuals and their respective agencies in the Chicago market.

Players

Michael Hall
8 deals$11.1M volume
BROKER

Karen Holt
1 deal$1.8M volume
BROKER

Details

SOLD
IMAGE: Karen Holt & Michael Hall DATE: 09/13/2021 ADDRESS: 2648 N Orchard St MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Karen Holt - @properties SELLER'S REP: Michael Hall - Baird & Warner SALE PRICE: $1,800,000 LOT SF: 3,485 ~ PPLSF: $516

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

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02