Drew Breneman Acquires Multifamily Asset In Chicago From Gabe Horstick & Alec Greenberg For $17.5M
SOLD
$17,500,000
Illinois
See Similar DealsMultiFamily44,819 SF
Sold 06/24/2025
SOLD
Drew Breneman Acquires Multifamily Asset In Chicago From Gabe Horstick & Alec Greenberg For $17.5M
3821 North Ashland Avenue
See Similar DealsMultiFamily44,819 SF
Sold 06/24/2025
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$390
Total Square Footage:44,819 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily building located at 3821 North Ashland Avenue in Chicago. The sale price was $17,500,000, with a size of 44,819 square feet, resulting in a price per square foot of $390.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,500,000
- Address: 3821 North Ashland Avenue
- Market: Chicago
- Size: 44,819 SF
- Price per SF: $390
- Buyer: Drew Breneman
- Seller: Gabe Horstick & Alec Greenberg - Base 3 Development
- Date of Transaction: 06/24/2025
This transaction involved key individuals: Drew Breneman as the buyer and Gabe Horstick and Alec Greenberg from Base 3 Development acting as the sellers. Their roles were pivotal in finalizing the deal on the specified date.
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SELLER
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
Annual Debt Service$995,507.14
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