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359 East 55th Place, Chicag...

Interra Realty Sells 67-Unit Multifamily Portfolio In Washington Park For $5.93M
SOLDMultiFamily

Interra Realty Sells 67-Unit Multifamily Portfolio In Washington Park For $5.93M

359 East 55th Place, Chicago, Illinois 60637, United States

$5,925,000

Building Size

Asset Type

MultiFamily

Closing

May 18, 2022

AI

The multifamily property located at 359 E 55th Pl, 6043 S., 6201 S., 6152 S., 6131 S., and 6235 S. Martin Luther King Dr in Washington Park, Chicago, was recently sold for a total price of $5,925,000. The property consists of 67 units and an additional lot.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,925,000
  • Market: Washington Park, Chicago

The sale was facilitated by Interra Realty, with brokers Brad Feldman, Jeremy Morton, and Ted Stratman representing the parties involved in the transaction. Their expertise and assistance were instrumental in finalizing the deal.

Please note that additional information about this transaction may be obtained from @InterraRealty's Instagram post.

Players

Brad Feldman

Interra Realty

Broker

$280.5M

vol

37 deals

Broker

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

2.68%

Cash-on-Cash

-0.77%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93