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
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