Updated Dec 4, 2024
Remax's Michael Gerhardt Acquires Multifamily Property In Chicago For $1.225M
3249 North Seminary Avenue
$1,225,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 20, 2023
About this deal
AI
3249 North Seminary Avenue is a multifamily property in Chicago that was recently sold for $1,225,000. The transaction took place on 10/20/2023, with Michael Gerhardt from Remax representing the buyer and Eric Bjorkman from Windy City Realty representing the seller.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,225,000
- Address: 3249 North Seminary Avenue
- Market: Chicago
In this deal, Michael Gerhardt from Remax acted as the buyer's representative, while Eric Bjorkman from Windy City Realty represented the seller. The sale of this multifamily property showcases the expertise and negotiation skills of these professionals in the Chicago real estate market.
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
12.95%
Cash-on-Cash
-3.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93