Hudson Valley Property Group Acquires Multifamily Portfolio In Chicago For $28M
SOLD
$28,000,000
Illinois
See Similar DealsMultiFamily144 SF
Sold 11/18/2022
SOLD
Hudson Valley Property Group Acquires Multifamily Portfolio In Chicago For $28M
4424 S Drexel Blvd Chicago, IL 60653, USA
See Similar DealsMultiFamily144 SF
Sold 11/18/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$194,444
Total Square Footage:144 SF
Transaction Type:Sale
The multifamily property located at 4424, 4530, 4700 South Drexel Boulevard & 4725 South Ingleside Avenue in Chicago has been sold for $28,000,000. The property consists of 144 units, with each unit priced at approximately $194,444.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $28,000,000
- Units: 144
- Price per Unit (PPU): $194,444
- Address: 4424, 4530, 4700 South Drexel Boulevard & 4725 South Ingleside Avenue, Chicago
The buyer of the property is Hudson Valley Property Group, represented by Jason Bordainick. The seller is Brian Chien-Chih Chen. The transaction was facilitated with the assistance of U.S. Bank Trust as the lender.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,493,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42
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