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

Property Image
SOLD
$5,925,000
Ted Stratman
Jeremy Morton
Brad Feldman

Illinois

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MultiFamily
Sold
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Property Image
SOLD

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

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

See Similar Deals
MultiFamily
Sold
Ted Stratman
Jeremy Morton
Brad Feldman
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

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
Brad Feldman
36 deals$282.9M volume
BROKER
Jeremy Morton
Interra Realty
Jeremy Morton
25 deals$85.4M volume
BROKER
Ted Stratman
Interra Realty
Ted Stratman
39 deals$243.7M volume
BROKER

Details

SOLD
IMAGE: Jeremy Morton, Brad Feldman & Ted Stratman DATE: 05/19/2022 ADDRESS: 359 E 55th Pl, 6043 S., 6201 S., 6152 S., 6131 S. & 6235 S. Martin Luther King Dr MARKET: Washington Park, Chicago ASSET TYPE: Multifamily BROKERS: Brad Feldman (@BsFeldman), Jeremy Morton (@JMorton) (@Jmorton22)& Ted Stratman (@TStratman) - Interra Realty (@InterraRealty) SALE PRICE: $5,925,000 NOTE FROM @InterraRealty: 67 units + 1 lot deal.

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

$316,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,050.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,087.52
Annual Debt Service$337,050.27