Updated Sep 5, 2024
Greenstone Partners Facilitates $1.76M Sale Of Multifamily Property In Chicago
2824 North Drake Avenue
$1,760,000
$286/SF
Building Size
6,150 SF
Asset Type
MultiFamily
Closing
Nov 30, 2022
About this deal
AI
The multifamily property located at 2824 N Drake Ave in Chicago, IL has been sold for a transaction price of $1,760,000. The property consists of 6 units, with an average price per unit of $293,333. The total square footage of the property is 6,150, resulting in a price per square foot of $286.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,760,000
- Address: 2824 N Drake Ave, Chicago, IL
- Market: Chicago, IL
- Units: 6
- Price per Unit: $293,333
- Square Footage: 6,150
- Price per Square Foot: $286
The sale of this multifamily property was facilitated by Jordan Multack, a broker from Greenstone Partners.
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
9.01%
Cash-on-Cash
-2.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93