Torchlight Investors Acquires Multifamily Property In Lombard, IL For $104M
SOLD
$104,000,000
Illinois
See Similar DealsMultiFamily
Sold 01/13/2022
SOLD
Torchlight Investors Acquires Multifamily Property In Lombard, IL For $104M
2720 South Highland Avenue, Lombard, Illinois 60148, United States
See Similar DealsMultiFamily
Sold 01/13/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
Located at 2720 South Highland Avenue in Lombard, IL, this multi-family property spans across 5 acres. The transaction took place on January 13, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $104,000,000
- Units: 403
- Price Per Unit: $258,065
- Buyer: Torchlight Investors - Daniel Heflin
- Seller: Marquette Companies
Torchlight Investors, represented by Daniel Heflin, acquired the property from the Marquette Companies. With a total of 403 units, the sale price amounted to $104,000,000, resulting in a price per unit of $258,065.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$369,490.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$493,013.06
Annual Debt Service$5,916,156.70
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