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418 Nicholson St, Joliet, I...

Adam Fortino Of Marcus & Millichap Represents Unknown Buyer In Sale Of Joliet Property For $475,000
SOLDMultiFamily

Adam Fortino Of Marcus & Millichap Represents Unknown Buyer In Sale Of Joliet Property For $475,000

418 Nicholson St, Joliet, IL, 60435

$475,000

Building Size

Asset Type

MultiFamily

Closing

Dec 18, 2018

AI

The property involved in this transaction is an eight-unit apartment complex located at 418-420 Nicholson Street in Joliet, Illinois. The property was sold for $475,000. The total square footage is reported as 0, and the market value is specific to the Joliet area. The unit mix consists of two one-bedroom/one-bathroom with den units and six two-bedroom/one-bathroom units. Additionally, the building includes on-site laundry facilities and five rental garages.

Summary of transaction details:

  • Property Type: Apartment
  • Transaction Amount: $475,000.00
  • Buyer: Unknown
  • Seller: Unknown
  • Address: 418 Nicholson St, Joliet, IL, 60435
  • Market: Joliet
  • Unit Mix: 2 one-bedroom/one-bathroom with den units, 6 two-bedroom/one-bathroom units
  • On-site Amenities: Laundry facilities, 5 rental garages
  • Buyer's Representative: Adam Fortino - Marcus & Millichap

Adam Fortino, a senior associate at Marcus & Millichap’s Chicago Oak Brook office, represented both the seller and the buyer in this transaction. The sale was announced by Steven D. Weinstock, regional manager of Marcus & Millichap’s Chicago Oak Brook office.

Players

Adam Fortino

KW Commercial

Broker

$8.2M

vol

9 deals

Broker

Joliet MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

33.40%

Cash-on-Cash

-9.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93