Andrew Delman - National Preservation Housing Partners Acquires Multifamily In Chicago Heights For $20.7M
SOLD
$20,700,000
Illinois
See Similar DealsMultiFamily
Sold 09/27/2022
SOLD
Andrew Delman - National Preservation Housing Partners Acquires Multifamily In Chicago Heights For $20.7M
31 Olympic Village, Chicago Heights, IL 60411, United States
See Similar DealsMultiFamily
Sold 09/27/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 31 Olympic Drive in Chicago Heights has been sold for a price of $20,700,000. The sale, which took place on September 27, 2022, involved a total of 320 units. The price per unit (PPU) in this transaction was $64,688. The property is situated in a prime location in the Chicago Heights market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $20,700,000
- Address: 31 Olympic Drive
- Market: Chicago Heights
- Units: 320
- Price Per Unit (PPU): $64,688
The buyer in this transaction is Andrew Delman, representing National Preservation Housing Partners. On the other side of the deal, the seller is Roger Gendron, who represents Silver Street Development Corporation. The involvement of these key individuals and companies showcases the significance of the transaction in the real estate market.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,104,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,542.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$98,128.56
Annual Debt Service$1,177,542.73
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