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Interra Realty Represents Both Parties In $24.5M Multifamily Sale In South Elgin

Property Image
SOLD
$24,500,000
Patrick (Pat) Kennelly
Jon Morgan
+ 1

Illinois

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MultiFamily111,848 SF
Sold 10/01/2021
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Property Image
SOLD

Interra Realty Represents Both Parties In $24.5M Multifamily Sale In South Elgin

355 North La Fox Street, South Elgin, IL, USA

See Similar Deals
MultiFamily111,848 SF
Sold 10/01/2021
Patrick (Pat) Kennelly
Jon Morgan
+ 1
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$219
Total Square Footage:111,848 SF
Transaction Type:Sale

The multifamily property located at 355 N. La Fox Street in South Elgin has been sold for $24,500,000. The property consists of 100 units with an average price per unit of $245,000. It spans a total area of 111,848 square feet, resulting in a price per square foot of $219.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $24,500,000
  • Units: 100
  • Price per Unit: $245,000
  • Square Footage: 111,848
  • Price per Square Foot: $219
  • Address: 355 N. La Fox Street, South Elgin

The sale of this multifamily property was facilitated by Interra Realty, with Jon Morgan and David Goss representing the seller, Synergy Construction Group, LLC. On the buyer's side, Patrick Kennelly and Paul Waterloo acted as the representatives for the transaction. These key individuals and companies played crucial roles in the successful closing of the deal.

Players

8 deals$133.4M volume
BROKER


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

Paul Waterloo
Interra Realty
52 deals$328M volume
BROKER

SELLER

Details

SOLD
IMAGE: Jon Morgan, David Goss, Patrick Kennelly & Paul Waterloo DATE: 10/01/2021 ADDRESS: 355 N. La Fox Street MARKET: South Elgin ASSET TYPE: Multifamily SELLER: Synergy Construction Group, LLC BUYER'S REP: Patrick Kennelly (@PJK8877) & Paul Waterloo (@PWaterloo) - Interra Realty SELLER'S REP: Jon Morgan (@morgan15msu) & David Goss (@davidgoss7259) - Interra Realty SALE PRICE: $24,500,000 UNITS: 100 ~ PPU: $245,000 SF: 111,848 ~ PPSF: $219

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

$1,306,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$87,043.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,142.50
Annual Debt Service$1,393,709.99