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Local Buyers Acquire 30-Unit Multifamily Portfolio In Mount Prospect For $4.29M With Interra Realty

Property Image
SOLD
$4,290,000
Paul Waterloo
Patrick (Pat) Kennelly
+ 2

Illinois

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MultiFamily
Sold 08/21/2024
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Property Image
SOLD

Local Buyers Acquire 30-Unit Multifamily Portfolio In Mount Prospect For $4.29M With Interra Realty

355 Hawthorne Circle

See Similar Deals
MultiFamily
Sold 08/21/2024
Paul Waterloo
Patrick (Pat) Kennelly
+ 2
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A five-building, 30-unit multifamily portfolio located at 353, 355, 357, 359 & 365 West Hawthorne Circle in Mount Prospect, Illinois was sold for $4,290,000, translating to a price per unit of $143,000. This transaction reflects strong investor demand for well-maintained workforce housing in the area.

Summary of transaction details:

The sale was executed by Interra Realty, marking a record per-building price for six-unit properties in the Mount Prospect area. Local buyers finalized the deal in two separate transactions, showcasing the portfolio's appeal in a competitive market.

Players

Patrick (Pat) Kennelly
52 deals$326.9M volume
BROKER

Paul Waterloo
Interra Realty
52 deals$328M volume
BROKER

Hubert Cioromski
Troy Realty
2 deals$8.8M volume
BROKER

Nathan Zito
Interra Realty
12 deals$91.5M volume(312) 477-0192
BROKER

Nader Shahat
1 deal$4.3M volume(630) 866-5901
BROKER

Details

SOLD
IMAGE: Nathan Zito, Nader Shahat, Paul Waterloo, Hubert Cioromski & Patrick Kennelly DATE: 08/21/2024 ADDRESS: 353, 355, 357, 359 & 365 West Hawthorne Circle MARKET: Mount Prospect ASSET TYPE: Multifamily BUYER'S REP: Hubert Cioromski - Troy Realty; Nader Shahat - Green Equities LLC SELLER'S REP: Nathan Zito, Patrick Kennelly (@PJK8877) & Paul Waterloo (@PWaterloo) - Interra Realty (@InterraRealty) SALE PRICE: $4,290,000 UNITS: 30 ~ PPU: $143,000 NOTE: Interra Realty brokered the $4.29 million sale of a five-building, 30-unit multifamily portfolio in Mount Prospect, Illinois, to local buyers in two separate transactions. The deals set a record per-building price for six-unit properties in the area, reflecting strong investor demand for well-maintained workforce housing.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$228,799.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,241.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,336.79
Annual Debt Service$244,041.46