Hudson Valley Property Group Acquires Multifamily Portfolio In Chicago For $28M
4424 S Drexel Blvd Chicago, IL 60653, USA
$28,000,000
$194,444/SF
Building Size
144 SF
Asset Type
MultiFamily
Closing
Nov 18, 2022
AI
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.
Chicago 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93