Cross Street Represents Sale Of Chicago Multifamily Asset For $8.8M
SOLD
$8,800,000
Illinois
See Similar DealsMultiFamily25,273 SF
Sold 03/01/2024
SOLD
Cross Street Represents Sale Of Chicago Multifamily Asset For $8.8M
3941 North Keeler Avenue
See Similar DealsMultiFamily25,273 SF
Sold 03/01/2024
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$348
Total Square Footage:25,273 SF
Transaction Type:Sale
The multifamily property located at 3941 North Keeler Avenue in Chicago was recently sold for $8,800,000. The property consists of 31 units with a price per unit of $283,871, spanning a total of 25,273 square feet at a price per square foot of $348.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,800,000
- Units: 31
- Price per Unit: $283,871
- Square Footage: 25,273
- Price per Square Foot: $348
- Address: 3941 North Keeler Avenue, Chicago
- Market: Chicago
- Buyer's Rep: Alexander Morsch & Oren Pollack - Cross Street
- Seller's Rep: Jordan Gottlieb - Essex Realty Group
A notable aspect of the transaction is that the buyer was represented by Alexander Morsch and Oren Pollack from Cross Street, while Jordan Gottlieb from Essex Realty Group acted as the seller's representative, overseeing the successful sale of the multifamily property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$469,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,264.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,716.49
Annual Debt Service$500,597.87
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