Ray Cahnman Sells Multifamily Property In Arlington Heights For $16M
SOLD
$16,000,000
Illinois
See Similar DealsMultiFamily1,551 SF
Sold 08/24/2021
SOLD
Ray Cahnman Sells Multifamily Property In Arlington Heights For $16M
3400 North Old Arlington Heights Road, Arlington Heights, IL 60004, USA
See Similar DealsMultiFamily1,551 SF
Sold 08/24/2021
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$10,315
Total Square Footage:1,551 SF
Transaction Type:Sale
A multifamily property located at 3400-20 N. Old Arlington Heights Rd in Arlington Heights, Il has been sold for $16,000,000. The property consists of 72 units, with a price per unit of $222,222.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,000,000
- Units: 72
- Price per Unit: $222,222
- Address: 3400-20 N. Old Arlington Heights Rd, Arlington Heights, Il
- Market: Arlington Heights, Il
The seller of the property was Ray Cahnman. The sale was facilitated by brokers Ron Plonis, Lee Kiser, and Jeff Leibovich from Kiser Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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