Updated Dec 21, 2023
Essex Realty Group Acquires Multifamily Property In Chicago For $5.3M
3228 West Palmer Street, Chicago, IL, USA
$5,365,000
$6,706/SF
Building Size
800 SF
Asset Type
MultiFamily
Closing
Nov 23, 2020
About this deal
AI
A multifamily property located at 3228 W. Palmer Street in Chicago has been sold for $5,365,000. The transaction took place on November 24, 2020. The property consists of 14 units, resulting in a price per unit of approximately $383,214. Jordan Gottlieb, Jordan Multack, and Jim Darrow from Essex Realty Group, Inc represented the parties involved in the sale.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,365,000
- Units: 14
- Price Per Unit: $383,214
The sale of the property on 3228 W. Palmer Street in Chicago was facilitated by Jordan Gottlieb, Jordan Multack, and Jim Darrow from Essex Realty Group, Inc. This brokerage firm played a crucial role in representing the parties involved in the transaction.
Players
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
2.96%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93