Cross Street Represents Sale Of Chicago Multifamily Asset For $8.8M
3941 North Keeler Avenue
$8,800,000
$348/SF
Building Size
25,273 SF
Asset Type
MultiFamily
Closing
Mar 1, 2024
AI
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.
Players
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
1.80%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93