Updated Sep 5, 2024
Essex Realty Acquires Multifamily Property In North Center, Chicago For $2.67M
3801 North Lincoln Avenue
$2,675,000
$178/SF
Building Size
15,000 SF
Asset Type
MultiFamily
Closing
Dec 20, 2022
About this deal
AI
The multifamily property located at 3801 North Lincoln Avenue in the North Center neighborhood of Chicago has been sold. The sale was facilitated by Rick Ofman of Essex Realty. The property spans 15,000 square feet and consists of 13 units.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $2,675,000
- Square Footage: 15,000
- Price per Square Foot: $178
- Number of Units: 13
- Price per Unit: $205,769
- Buyer's Representative: Rick Ofman - Essex Realty
Rick Ofman, representing Essex Realty, played a crucial role in this property transaction in North Center, Chicago. The sale price of $2,675,000 reflects the value of the 15,000 square feet property with 13 units. The buyer's representative, Rick Ofman, ensured a smooth and successful transaction, showcasing their expertise in the market.
Players
North Center, 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
5.93%
Cash-on-Cash
-1.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93