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401 Janes Avenue

Updated Dec 4, 2024

Jim Lippman And Daniel Lippman Of JRK Property Holdings Acquire Multifamily Complex In Bolingbrook For $69.3M
SOLDMultiFamily

Jim Lippman And Daniel Lippman Of JRK Property Holdings Acquire Multifamily Complex In Bolingbrook For $69.3M

401 Janes Avenue

$69,300,000

Units

288

Asset Type

MultiFamily

Closing

Aug 13, 2024

About this deal

AI

The property asset involved in this transaction is the Brook on Janes apartment complex, consisting of 288 units located at 401 Janes Avenue in Bolingbrook. The sale price for the multifamily asset was $69.3 million, translating to a price per unit of approximately $240,625.

Summary of transaction details:

This transaction reflects JRK Property Holdings' expansion of its Chicago-area portfolio. The acquisition indicates a notable activity surge in the multifamily sector, spurred by strong rent growth in suburban Chicago, despite a recent slowdown in deal volume nationally.

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$69,300,000

MultiFamily

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Players

Matthew Lawton

JLL

Broker

$1.5B

vol

12 deals

Broker
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Bolingbrook MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $240.6K per unit across 288 units on a published $69.3M (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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