Magnolia Grace Condominiums Association Sells Multifamily Property In Wrigleyville, Chicago For $2.85M
SOLD
$2,850,000
Illinois
See Similar DealsMultiFamily9,000 SF
Sold 10/15/2021
SOLD
Magnolia Grace Condominiums Association Sells Multifamily Property In Wrigleyville, Chicago For $2.85M
3763 North Magnolia Avenue, Chicago, IL 60613, USA
See Similar DealsMultiFamily9,000 SF
Sold 10/15/2021
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$316
Total Square Footage:9,000 SF
Transaction Type:Sale
The multifamily property located at 3763 N. Magnolia Ave in Wrigleyville, Chicago was recently sold. The sale was facilitated by Andy Friedman and Jake Parker from Kiser Group, who represented the seller, Magnolia Grace Condominiums Association. The transaction took place on October 15, 2021.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $2,850,000
- Number of Units: 12
- Price per Unit: $237,500
- Market: Wrigleyville, Chicago
The sale price for the property was $2,850,000, with each unit valued at approximately $237,500. The transaction involved a total of 12 units. Andy Friedman and Jake Parker, from Kiser Group, played a key role in representing the seller, Magnolia Grace Condominiums Association, in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$151,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,125.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,510.45
Annual Debt Service$162,125.45
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