facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Illinois

/

Multifamily

/

Sale

/

3433 N Lakewood Ave, Chicag...

Dwelle Acquires MultiFamily Property On Lakewood Ave In Chicago For $4.4M
SOLDMultiFamily

Dwelle Acquires MultiFamily Property On Lakewood Ave In Chicago For $4.4M

3433 N Lakewood Ave, Chicago, IL, 60...

$4,400,000

Building Size

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

The property located at 3433-3443 N. Lakewood Avenue in Chicago, IL, consists of 16 two-bed/one-bath apartment units. Each unit features high-end finishes and appliances, wood floors, and in-unit washer and dryer. The property also offers shared deck spaces and individual storage spaces in the basement. Its location provides residents easy access to the Southport Corridor and Brown Line.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $4,400,000.00
  • Buyer: Dwelle
  • Seller: Unknown
  • Buyer's Rep: Kyle Stengle (Marcus & Millichap)
  • Financing: Dwelle used a Freddie Mac SBL, with Steve Kundert and Jim Vozza at CBRE facilitating the transaction.

Kyle Stengle of Marcus & Millichap represented both the buyer, Dwelle, and the seller. The property was acquired through Dwelle, a joint venture between Drew Breneman’s firm RiseInvest and Sam Meyer. Dwelle was able to close the off-market deal without a financing contingency. The seller chose Dwelle for the 1031 exchange due to their track record and performance during challenging times.

Players

Kyle Stengle

Marcus & Millichap

Broker

$198.4M

vol

44 deals

Broker
D
DwelleBuyer

Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.61%

Cash-on-Cash

-1.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93