Spirit Investment Partners & The Bascom Group Acquire Multifamily Property In Evanston, Ill For $49.1M
415 Chicago Avenue, Evanston, Illinois, USA
$49,100,000
$39,660/SF
Building Size
1,238 SF
Asset Type
MultiFamily
Closing
Jul 27, 2020
AI
Located at 415 Howard St. in Evanston, Illinois, this recently closed property transaction involved a multifamily asset. The sale was facilitated by Dan Cohen of CBRE.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $49,100,000
- Number of Units: 221
- Price Per Unit: $222,172
- Buyer: Spirit Investment Partners & The Bascom Group
- Seller: Crescent Real Estate
The acquisition was made by a joint venture between Spirit Investment Partners and The Bascom Group. The seller, Crescent Real Estate, successfully closed the deal with the assistance of their broker representative, Dan Cohen of CBRE.
Players
Evanston 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93