Monarch Realty Partners Brokers $38.85M Sale Of Multifamily Property In Montclare, Chicago
SOLD
$38,850,000
Illinois
See Similar DealsMultiFamily208,000 SF
Sold 01/21/2022
SOLD
Monarch Realty Partners Brokers $38.85M Sale Of Multifamily Property In Montclare, Chicago
2931 N Harlem Ave, Chicago, Illinois 60707, United States
See Similar DealsMultiFamily208,000 SF
Sold 01/21/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$186
Total Square Footage:208,000 SF
Transaction Type:Sale
The multifamily property located at 2931 N. Harlem Avenue in the Montclare neighborhood of Chicago has been sold for a price of $38,850,000. This transaction took place on January 21, 2022. The property consists of 165 units, with an average price per unit of $235,455. The total square footage of the property is 208,000, resulting in a price per square foot of $187.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $38,850,000
- Units: 165
- Price per Unit: $235,455
- Square Footage: 208,000
- Price per Square Foot: $187
- Address: 2931 N. Harlem Avenue, Montclare, Chicago
- Broker: Bill Baumann - Monarch Realty Partners
Bill Baumann of Monarch Realty Partners represented the parties involved in this sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,071,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$138,025.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$184,168.82
Annual Debt Service$2,210,025.84
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