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3316 North Damen Avenue, Ch...

Midwest Real Estate Brokerage LLC Acquires Multifamily Property In Chicago For $1.375M
SOLDMultiFamily

Midwest Real Estate Brokerage LLC Acquires Multifamily Property In Chicago For $1.375M

3316 North Damen Avenue, Chicago, Illinois 60618, United States

$1,375,000

$205/SF

Building Size

6,700 SF

Asset Type

MultiFamily

Closing

Jun 12, 2022

AI

The multifamily property located at 3316 N Damen Ave in Chicago has been sold in a recent transaction. The property spans 6,700 square feet and was sold for a price of $1,375,000, resulting in a price per square foot of $205. The lot size of the property is 3,125 square feet, making the price per lot square foot $440. Alejandro Bravo from Midwest Real Estate Brokerage LLC represented the buyer in this transaction, while Berthene Christos from Urban Abodes Chicago represented the seller.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,375,000
  • Square Feet: 6,700
  • Price per Square Foot: $205
  • Lot Size: 3,125 square feet
  • Price per Lot Square Foot: $440

Alejandro Bravo from Midwest Real Estate Brokerage LLC played a key role as the buyer's representative in this transaction, ensuring a smooth deal. On the other side, Berthene Christos represented the seller, Urban Abodes Chicago. The involvement of these experienced professionals contributed to the successful completion of the sale.

Players

Berthene Christos

Broker

$4.8M

vol

3 deals

Broker
Fulton Grace Realty
Fulton Grace RealtyBrokerage

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

11.54%

Cash-on-Cash

-3.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93