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Srinivasa Sirigiri Of Provident Realty Represents Buyer In $1.425M Chicago Multifamily Sale

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SOLD
$1,425,000

Illinois

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MultiFamily
Sold 09/25/2024
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Property Image
SOLD

Srinivasa Sirigiri Of Provident Realty Represents Buyer In $1.425M Chicago Multifamily Sale

446 North Aberdeen Street

See Similar Deals
MultiFamily
Sold 09/25/2024
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A 3-flat residential building located at 446 North Aberdeen Street in Chicago's Fulton Market has been sold for $1.425 million, which amounts to $475,000 per unit. The property consists of three updated 2-bedroom, 2-bathroom units equipped with modern amenities. Additionally, it includes garage parking and an unfinished basement, presenting potential for future development in a vibrant urban area.

Summary of transaction details:

The transaction involved key representatives from prominent real estate agencies, with Srinivasa Sirigiri representing the buyer and Robert Baum serving for the seller. Their roles contributed to the closing of this multifamily investment opportunity in Chicago.

Players

4 deals$7.2M volume
BROKER

Robert Baum
1 deal$1.4M volume(312) 337-0200
BROKER

Details

SOLD
IMAGE: Robert Baum DATE: 09/25/2024 ADDRESS: 446 North Aberdeen Street MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Srinivasa Sirigiri - Provident Realty SELLER'S REP: Robert Baum - @Properties Commercial (@AtProperties) SALE PRICE: $1,425,000 UNITS: 3 ~ PPU: $475,000 NOTE: A 3-flat residential building at 446 North Aberdeen Street in Chicago's Fulton Market sold for $1.425 million, or $475,000 per unit, with representation by Srinivasa Sirigiri from Provident Realty for the buyer and Robert Baum from @Properties Commercial for the seller. Each of the three updated 2-bedroom, 2-bathroom units offers modern amenities, and the property features garage parking and an unfinished basement for future development, making it a prime investment opportunity in a vibrant urban area.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$76,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,062.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,755.23
Annual Debt Service$81,062.72