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
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