Midwest Real Estate Brokerage LLC Acquires Multifamily Property In Chicago For $1.375M
SOLD
$1,375,000
Illinois
See Similar DealsMultiFamily6,700 SF
Sold 06/13/2022
SOLD
Midwest Real Estate Brokerage LLC Acquires Multifamily Property In Chicago For $1.375M
3316 North Damen Avenue, Chicago, Illinois 60618, United States
See Similar DealsMultiFamily6,700 SF
Sold 06/13/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$205
Total Square Footage:6,700 SF
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$73,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,885.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,518.20
Annual Debt Service$78,218.42
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